April futures on the TTF index — Europe's largest hub — opened at $586.7 per 1,000 cubic meters (+8.8%) at 07:00 GMT. As of 07:52 GMT, they were trading at $710.8 (+31.8%).
On Monday, Qatari state-owned company QatarEnergy announced it had halted LNG production due to a drone attack on Qatar's largest LNG facility.
The Ministry of Defense of Saudi Arabia reported that debris from drones fell on the oil refinery of the Saudi oil company Saudi Aramco in the Ras Tanura area in the east of the kingdom.
Amid the escalation of the conflict, shipping through the Strait of Hormuz has almost stopped, and insurers have begun raising premiums and revising insurance coverage due to the increasing security threats.