Europe Faces High War-Related Gas Prices Through 2027, HSBC Says

HSBC projects European natural gas prices will be 40% higher than previously forecast for 2026, remaining elevated through 2027, due to the Iran war and closure of the Strait of Hormuz causing a supply shortfall. The disruption to Middle East energy flows is expected to have prolonged effects on European energy markets. This represents a significant upward revision to prior price outlooks.