Europe’s Gas Crisis Deepens as Hormuz LNG Crunch Drives Prices Higher

European natural gas prices have soared dramatically since the war in Iran trapped a fifth of the world’s liquefied natural gas supply behind the Strait of Hormuz. The high prices are creating a headache for governments amid soaring energy bills for households and spiking energy costs for industry.

European natural gas prices have soared dramatically since the war in Iran trapped a fifth of the world’s liquefied natural gas supply behind the Strait of Hormuz. The high prices are creating a headache for governments amid soaring energy bills for households and spiking energy costs for industry.