Amman, July 20 (Petra) – European gas prices rallied to over $700 per thousand cubic meters in Monday's trading, the highest since March 23, driven by rising US-Iran tensions and attacks on commercial shipping in the Strait of Hormuz.

According to Bloomberg, data from London-based ICE Futures Europe (IFEU), one of the world’s most critical commodity and derivatives marketplaces, showed that the August gas futures contracts at the Dutch TTF Gas, a leading European benchmark price, rose to $716 per thousand cubic meters, about €60.515 per megawatt-hour.

Price gains since the start of trading exceeded 5 percent, it said.

//Petra//SS