07/09/2026 – U.S.-Iran War: Clashes Have Resumed, and Gas Prices Continue to Soar – Read More News

GAS & POWER: Gas prices hit new highs this morning, with the front-month contract surpassing the €75/MWh threshold. The situation in the Middle East remains extremely complicated, with renewed attacks between the United States and Iran keeping shipping traffic through the Strait of Hormuz at a minimum, and the prospects for a diplomatic rapprochement between the parties looking very slim.

European storage levels exceeded the 65% fill rate threshold last week. Over the past month, the lag compared to last year has remained essentially unchanged, with a deficit of approximately 145 TWh. In absolute terms, total storage levels for the period have fallen below the 2021 lows, with reserves standing at approximately 753 TWh. The outlook for filling the storage facilities by the end of the season confirms the challenge of reaching the psychological threshold of 70%.