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The Hormuz Strait Crisis Drives European Energy Prices to Their Highest Levels Since 2015

March 3, 2026اقتصاد – الشروق أونلاينechoroukonline.comTranslated from Arabic
The Hormuz Strait Crisis Drives European Energy Prices to Their Highest Levels Since 2015

The Spanish newspaper 'La Razón' reported that natural gas prices in the European market nearly doubled within 48 hours, following the Iranian threat to close the Hormuz Strait and the escalation of attacks in the Arabian Gulf region, leading to a sharp rise in global energy markets. According to the newspaper, the price of natural gas in Europe rose by 24% today, exceeding 57 euros per megawatt/hour, which represents nearly double its value in just two sessions, amid fears of supply disruptions through the strait that carries about a third of the world's gas and oil trade. Read the full content on Echourouk Online.

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