European Natural Gas Rises as Iran Closes Strait of Hormuz Again

European natural gas rose after Iran closed the Strait of Hormuz shortly after reopening the waterway, choking the flow of energy from the Persian Gulf.

Benchmark TTF futures advanced as much as 11% to €43 ($50.56) a megawatt-hour before trading up 6.2% at 12:35 a.m. Singapore time. That erased most of a decline on Friday after Tehran said the waterway was open to commercial traffic.