Economy

European gas prices jumped by more than 9% on Thursday morning, reaching €53.26 per megawatt-hour on the Amsterdam exchange as the conflict between the United States, Israel, and Iran entered its sixth day. Although a US-led plan to protect shipping briefly steadied markets on Wednesday, the continued closure of the Strait of Hormuz has fueled fears of a long-term energy shortage. This latest price spike was triggered by Iranian claims of an attack on an American tanker in the Persian Gulf, leaving traders increasingly worried about the security of vital global fuel supplies.

Dutch exporters are losing millions as conflict in the Middle East disrupts major shipping and flight corridors. Logistics experts warn that diverted cargo is causing a backlog at alternative ports, leaving containers stranded and driving up transport fees. Although everyday consumer goods remain stable for now, the crisis is severely impacting the delivery of vital medical supplies.

Rabobank economists warn that the conflict in the Middle East could lead to sharp increases in Dutch petrol and energy prices. In the most severe scenario they examined, fuel could reach €3 per litre and energy bills could rise above €400 per month. Other analysts expect a smaller impact, but say the outlook depends heavily on how long the conflict lasts.

Global oil prices have continued to rise as conflict in the Middle East threatens the vital Strait of Hormuz shipping lane. While the United States prepares market interventions to stabilise costs, European motorists are already facing higher prices at the petrol pump. Experts warn that fuel costs could soon approach the record highs seen in 2022 if the regional instability persists.

The Veldhoven chip-machine giant ASML is planning to expand its expertise into the field of advanced packaging to support the AI revolution. By developing tools that connect specialised chips, the company aims to secure its position in the semiconductor industry for the next fifteen years.

Industrial activity in the Netherlands picked up slightly in February, with production and business confidence both improving. New orders from abroad fell, but economists expect this decline to be temporary. Rising energy prices and growing defence investments are shaping the outlook for the sector.

ProRail says gas use at train stations has dropped sharply after changing how and when heating is used. The organisation is now exploring alternatives for the few locations that still need warmth. Survey results suggest passengers have not noticed any decline in comfort.

Air France-KLM and other major airlines fell sharply on Monday as the conflict in the Middle East disrupted flights and sent fuel prices soaring. Energy companies, including Shell, benefited from the surge in oil and gas prices. European markets broadly declined as investors reacted to rising geopolitical tensions and uncertainty over how long the crisis may last.