European gas prices have rebounded. Just as the region is about to enter the peak winter heating season, a new wave of attacks on ships in the Strait of Hormuz has once again raised concerns in the market about tight supply. Benchmark futures for natural gas followed the rise in oil prices, with the highest increase of 3.8% in the current round after a sharp drop on the previous trading day. Iran's state-run media IRIB reported that an oversized tanker hit a mine in the waters of Hormuz, but the name of the ship and the time of the incident were not disclosed. Attacks on oil and gas carriers have increased in recent weeks, and the geographical risk remains high. At the same time, European gas storage stocks are far below normal, and are increasingly dependent on liquefied natural gas; in an environment where global pallets are tight, buyers may need to raise prices to get the full cargo ship. The market fluctuated sharply on Tuesday, and the price once exceeded 90 euros/megawatt hour, for the first time since the end of 2022; prices then fell due to the settlement of profits and unconfirmed news about the armistice negotiations between Iran and the US.

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