Gas Prices Rise After Vessel Attack in Strait of Hormuz

Gas prices rose following an attack on a vessel in the Strait of Hormuz. European natural gas and oil prices increased following reports of an attack on a ship carrying LNG (liquefied natural gas) near Oman's shores while exiting the Strait of Hormuz. Europe's benchmark natural gas price rose more than 4.5 percent, reaching 46 euros ($52.5) per megawatt-hour by 07:05 GMT, recovering losses from the previous session. Oil prices also climbed, with Brent crude, the international benchmark, gaining 1.2 percent to reach approximately $73 per barrel, its highest level in the past week.