European natural gas futures are expected to jump on Monday as President Donald Trump’s announcement of a naval blockade of the Strait of Hormuz heightened concerns over a further global supply squeeze. The US military said it will begin the blockade at 10 a.m. Eastern Time, following failed weekend negotiations with Iran aimed at ending the six-week-long conflict. Trump also said the US will intercept vessels that have paid tolls to Iran for safe passage through the strait. Although most Middle Eastern gas supplies are typically directed toward Asia, any prolonged disruption in the Strait would intensify competition among importers, especially as Europe enters a critical period of replenishing gas storage ahead of the winter season. Tensions have already halted LNG shipments through the waterway for over a month, including the shutdown of the world’s largest LNG facility in Qatar.
