Gas prices in Europe rise above $600 barrel due to Iran's closure of Strait of Hormuz

European gas exchange prices exceeded $600 per 1,000 cubic meters for the first time since February 2025, Report informs referring to trading data.

This trend was noted against the backdrop of the Islamic Revolutionary Guard Corps (IRGC)'s announcement to close the Strait of Hormuz.

The price of April futures on the TTF hub in the Netherlands rose to approximately $630 per 1,000 cubic meters.

The price increase since the start of the day has reached 17%.