European Gas Prices Rise as Key Shipping Lane Stays Blocked

European gas prices rose 3.43% to €57.45 per megawatt-hour on August 10. Prices had dipped after Trump said the Strait of Hormuz — a narrow channel carrying much of the world's fuel — would reopen without Iranian tolls. Iran said its deal was nearly done on August 9 but demanded the US move first. Roughly 20% of global fuel has been blocked since February 28.