[The risk of the situation in Iran rises, European natural gas rebounds to a four-year high] October 28th, as demand for heating in the northern hemisphere gradually increased, coupled with market concerns about the escalation of the conflict in Iran, European natural gas prices rose to a new high in the past four years. Benchmark futures rebounded after a brief fall in the previous trading day, with a maximum increase of 2.6%, reaching 98 euros per megawatt hour for the first time since late 2022. Sources said the United States has notified several Persian Gulf countries to prepare for a short, high-intensity military operation after the mid-term elections. Oil prices rose simultaneously. President Trump has previously hinted that the United States may restart its attack on Iran and has deployed additional troops to the region, which has continued to push up energy prices recently. Earlier this week, Qatar extended force majeure on LNG supplies to Italy's Edison SpA, its largest buyer in Europe, as well as buyers from Pakistan and Bangladesh. The Middle East was responsible for about one-fifth of the world's LNG exports last year. Current supply has been disrupted by the war and there is no sign of recovery. The global natural gas market therefore maintains a tight balance, and as temperatures drop, Europe and Asia will compete for limited spot LNG cargoes.