Middle East conflict escalates, leading to a surge in natural gas prices in Europe.

According to Xinhua News Agency, European natural gas and oil prices surged sharply on the morning of the 19th due to the escalation of Middle East conflicts. The April futures price of Dutch TTF natural gas, which serves as the benchmark price in Europe, opened more than 30% higher that day, surpassing 70 euros per megawatt-hour, more than doubling the level of around 32 euros before the outbreak of hostilities. In the UK, wholesale natural gas prices, which generally follow European market trends, surged by about 20% at one point, also doubling compared to before the conflict. In addition, London Brent crude oil futures prices briefly rose above $116 per barrel after opening that day. It is widely believed in the market that the ongoing tension in the Middle East, as well as attacks on energy infrastructure in Qatar and Iran, have heightened concerns about global energy supply, which is the main reason driving the rise in energy prices.