European gas prices have surged following rising tensions in the Middle East, as failed ceasefire talks between Iran and the US unsettle global energy markets, Belga News Agency reported.

On Monday (April 13)  morning, gas prices on the Dutch benchmark market rose by around 12 per cent to nearly €49 ($57) per megawatt hour for May delivery.

Prices briefly spiked by almost 18 per cent overnight, reaching 51 euros.

The increase comes after the US announced a naval blockade targeting shipping to and from Iranian ports.

The move follows unsuccessful negotiations between Washington and Tehran aimed at securing a ceasefire.

US president Donald Trump said the action would begin immediately.

Military officials confirmed enforcement from 16:00 Belgian time.

The blockade applies to vessels entering or leaving Iranian ports, though ships passing through the Strait of Hormuz to non-Iranian destinations will not be disrupted.

Energy markets reacted swiftly.

Brent crude rose by more than 7 per cent to above 102 dollars per barrel, while US WTI crude climbed over 8 per cent to just under 105 dollars.

The Strait of Hormuz remains a critical route for global energy supplies, carrying roughly one-fifth of the world’s oil consumption.

Uncertainty over how strictly the blockade will be enforced, and whether it can be bypassed, continues to weigh on markets.