00:00European gas prices jumped by as much as 45% on Monday, hitting 46 euro per megawatt hour after Qatar
00:06officially halted its gas production.
00:09The surge follows a reported attack on Qatar Energy's massive Northfield facilities, which comes amid the wider fallout of U
00:16.S. and Israeli strikes on Iran.
00:18Global energy flows are now under threat as Tehran moves to block the Strait of Hormuz, a maritime choke point
00:24that carries 20% of the world's oil supply.
00:28Experts warn that while the Strait has never been fully closed in modern history, current satellite data shows tanker traffic
00:34has virtually halted.
00:36The disruption is a major blow to Europe, which relies on Qatar for up to 14% of its LNG
00:42imports since moving away from Russian energy.
00:45The crisis hits at a time of vulnerability, with EU gas storage levels currently below 30% as the winter
00:51heating season comes to an end.
00:53In Germany and France, reserves have plummeted to just 20%, putting the bloc's largest economies at risk of intense global
01:00competition for remaining supplies.
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