European natural gas and oil prices rose on Tuesday following reports that a liquefied natural gas (LNG) carrier was attacked near the Omani coast while exiting the Strait of Hormuz, a key global energy shipping route.
European benchmark natural gas prices climbed more than 4.5% to €46 ($52.50) per megawatt-hour by 07:05 GMT, recovering losses recorded during the previous trading session.
Oil prices also moved higher amid concerns over potential supply disruptions. International benchmark Brent crude gained 1.2%, approaching $73 per barrel its highest level in a week.
Iranian state broadcaster IRIB reported that the vessel came under attack after it allegedly ignored warnings while transiting the strategic waterway.
The reported incident has renewed concerns over security in the Strait of Hormuz, through which a significant share of the world’s oil and liquefied natural gas supplies passes, raising fears of possible disruptions to global energy markets.
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