For the first time since 2023.. European gas jumps 5 percent to exceed $96

This increase is driven by escalating tensions between the United States and Iran, and concerns over disruptions in oil supplies through the Straits of Hormuz and Bab al-Mandeb.

Gas storage facilities in the European Union countries were 68.04 percent full, according to data from the Gas Infrastructure Europe organization, which is much lower than the five-year average of 84 percent.

Supply disruptions in the Middle East have made it difficult for Europe to refill its stocks as winter approaches, with gas storage being 16 percent lower than the five-year average.

The western coast of Yemen has seen a rapid field shift in recent days, with Houthi advances towards areas near the Bab al-Mandeb Strait, one of the world's most important maritime passages, in a development that could redraw the map of control over one of the region's most strategic locations.

New attacks and increasing risks around major oil routes in the Middle East have heightened fears of supply disruptions.

The United States has recently launched military attacks on sites in Iran, amid a deadlock in negotiations between them due to disagreements over navigation in the strategic Strait of Hormuz for energy and commodity supplies.

Tehran responded by carrying out attacks against U.S. military installations in Arab countries, some of which resulted in civilian casualties and damage to civilian facilities.

On February 28, the United States and Israel began a war against Iran, which resulted in more than 3,000 deaths, according to Tehran, which responded with attacks that killed Americans and Israelis.