The conflict in the Hormuz Strait casts a shadow over the prospects of the agreement, and natural gas prices in Europe are rising.

After the United States launched attacks on Iranian vessels in the Hormuz Strait, the prospect of restarting the key shipping route for global energy supply has added uncertainty, causing European natural gas prices to rise. Benchmark futures rose by as much as 5% after a sharp drop the previous day; despite trading volumes gradually increasing after the holidays in Europe and America, prices continue to experience severe fluctuations. If shipping in the Hormuz Strait is interrupted for a long period, it could lead to a tightening of supply in the European natural gas market. Currently, European gas storage facilities are only slightly higher than 38%, far below the five-year average of 52% for the same period in previous years.