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Gas, oil prices jump after Hormuz attack report

News Desk
7 July 2026 22:18 Updated: 7 July 2026 22:18

LNG pipeline. Photo: Collected

Global energy prices climbed on Tuesday following reports of an attack on a liquefied natural gas (LNG) carrier as it was transiting the Strait of Hormuz off the coast of Oman, Al Jazeera reported.

Europe’s benchmark natural gas price rose by more than 4.5% to around €46 ($52.5) per megawatt-hour, rebounding after losses in the previous trading session.

Iran’s state broadcaster IRIB claimed the vessel was attacked after it ignored warning messages. However, the reported incident could not be independently verified.

Concerns over potential disruptions to global energy supplies also pushed up crude oil prices. International benchmark Brent crude gained about 1.2% to nearly $73 a barrel, its highest level in about a week.