European gas prices are flashing red again. LNG futures touched 62 euros, or about 70 dollars, per megawatt-hour on July 22nd, the highest since the Iran-Israel conflict rattled markets earlier this year. It is up nearly 50 percent from June's 40-42 euros range. The reason isn't a new supply shock. It's a bidding war Europe is losing.

Europe Loses LNG Bidding War to Asia | World Business Watch 

India has officially revoked the emergency natural gas supply regulations that were imposed during the peak of the West Asia conflict. The Ministry of Petroleum and Natural Gas issued a notification omitting the operational provisions of the March 2026 order, lifting restrictions and restoring normal gas allocation to all commercial, industrial, and power consumers as maritime traffic through the Strait of Hormuz stabilized following a ceasefire.


West Asia Resumed LNG Imports Prompts India to Lift Emergency Natural Gas Supply Curbs

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Europe Loses LNG Bidding War to Asia | World Business Watch

West Asia Resumed LNG Imports Prompts India to Lift Emergency Natural Gas Supply Curbs