European natural gas prices surged on Wednesday, March 18, during trading. The price of April futures at the TTF hub in the Netherlands rose 1.35% to €52.26 per MWh, or $632.5 per 1,000 cubic meters at current forex rates, according to ICE Futures exchange data.

Prices reversed course after reports that several Iranian oil and gas infrastructure facilities at the South Pars and Assaluyeh fields had been struck by the U.S. and Israel. Before the news, gas prices had been falling by approximately 3%.