European Gas Prices Jump as US Set to Blockade Iran Ports

European natural gas prices jumped after the US vowed to blockade all vessels passing through the Strait of Hormuz that called at Iran ports or were headed there.

Benchmark futures jumped as much as 18% during Asian trading hours, before paring some of the gains as European market participants came online. The trading day for the contracts expanded to 21 hours, from 10, on Monday.