European Natural Gas Prices Jump After U.S. Strike on Iranian Tankers

European natural gas prices surged after the U.S. struck Iranian tankers over the weekend, with markets worried that energy shipping through the Strait of Hormuz could face a prolonged disruption. According to Sina Finance, front-month futures rose as much as 4.2% to 75.005 euros per megawatt-hour before easing to 74.680 euros at 9:41 a.m. Tokyo time, and trading was thin in the Asian morning session. The U.S. said it struck three Iranian tankers over the weekend and destroyed one of them in retaliation for Iran's attack on a U.S. Navy vessel. According to Sina Finance, citing Iranian news television, a senior Iranian security official said a new restricted zone would be designated outside the Strait of Hormuz in the coming days. Iran also said it had hit three tankers, but that claim has not been independently verified by a third party.