European gas prices surge over 20 pct on Iran conflict

BRUSSELS

European gas prices soared more than 20 percent Monday on fears that the Iran war will cut supplies in the Gulf region, notably exports from Qatar.

The Dutch TTF natural gas contract, considered the European benchmark, rocketed to 38.885 euros, having earlier gained more than 22 percent.

Despite the surge, the price was below the level it reached in January during the northern hemisphere winter.