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Feature

DUBAI, UNITED ARAB EMIRATES - MARCH 2: Commercial ships anchor off the coast of the United Arab Emirates due to navigation disruptions in the Strait of Hormuz, Dubai on March 2, 2026. Increased maritime traffic led to a buildup of vessels waiting near Dubai, highlighting the strategic importance of the strait, which handles 20 percent of global energy trade

Iran: Gas price hike jeopardizes storage

At the start of the week, Iran’s blockade of the Strait of Hormuz caused a steep increase in gas, oil, and electricity prices for the coming months. The key indicator for the filling of European gas storage facilities has turned negative.

By Manuel Berkel