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European gas prices hit four-month high as US-Iran conflict sparks winter supply fears
European natural gas prices briefly surpassed €60 per MWh on Monday, reaching a four-month high amid fears of winter supply shortages. The surge was driven by US expansion of its aerial offensive against Iran and Iranian retaliatory strikes on Bahrain and Kuwait. Oil briefly broke through $90 a barrel before easing after Tehran signalled that talks were ongoing.
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