According to CoinMeta, European natural gas prices continue to rise, with the benchmark natural gas futures price breaking through 85 euros per megawatt-hour, an increase of 2.7% from the previous trading day. Traders are assessing the uncertainties surrounding the Middle East conflict and the balance of supply and demand for natural gas in the region. The war in Iran has led to nearly one-fifth of global liquefied natural gas exports being withdrawn from the market, forcing Europe to compete with Asia for the limited supplies. Recently, natural gas prices in both regions have soared to their highest levels since 2022, more than tripling from the beginning of the year.