Middle East Tensions Push European Gas Markets to 15-Week High

European natural gas prices hit four-month highs on Thursday, with the Netherlands TTF contract at 54.92 euro/MWh and UK at 131.64 pence/therm. Iran's existential war warnings and Hurmuz Strait geopolitical risks threaten LNG supply chains. While Asia's summer cooling demand surges, Europe's gas storage remains structurally sound, but supply disruptions could destabilize markets.

Markets are reacting with anticipation of Citi, Google, Meta and Amazon hitting $800 billion in 2027, but AngloGold and Fresnillo may suffer from LNG price hikes.