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File - The 'Hoegh Esperanza' Floating Storage and Regasification Unit is anchored during the opening of the LNG terminal in Wilhelmshaven, Germany. 17 Dec. 2022

Economy

Video. Gas prices nearly double as Europe braces for Iran war energy shocks

Updated: 03/03/2026 - 16:03 GMT+1

Gas prices in Europe are rising as Middle East tensions disrupt global energy flows, fuelling fears of tighter LNG supplies. Analysts warn that if the conflict persists, higher wholesale costs could feed through to household bills and weigh on the wider economy.

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