LONDON, June 16 (Reuters) - Dutch and British wholesale gas prices mostly rose on Monday morning due to the escalation of conflict between Israel and Iran and the prospect of it impacting gas supplies.
The benchmark Dutch front-month contract at the TTF hub TRNLTTFMc1 rose by 0.51 euro to 38.40 euros per megawatt hour (MWh) by 0714 GMT, its highest level early April, according to LSEG data.
The day-ahead price was up 0.54 euro at 38.17 euros/MWh.
The British contract for July was 1.91 pence higher at 91.47 pence per therm.
Iranian missiles struck Israel's Tel Aviv and the port city of Haifa before dawn on Monday, destroying homes and fuelling concerns among world leaders at this week's G7 meeting that the confrontation could lead to a broader regional conflict.
Iran partially suspended operations at the South Pars gas field on Saturday after an Israeli strike caused a fire there.
There are also concerns about the possible blockage of the Strait of Hormuz if Iran retaliates beyond Israeli borders, through which 20% of the world's liquefied natural gas supply $(LNG)$ transits.
Average temperatures are on the rise this week in north-west Europe and wind speeds are forecast to fall, lifting demand for gas from power plants.
Total Norwegian exports are nominated 53 million cubic metres (mcm) higher compared to Friday at 253 mcm/day, with exports to continental Europe accounting for most of the increase, LSEG data showed.
But north-west Europe LNG send-out is expected to be 287 gigawatt hours (GWh) lower from 2,610 GWh on Friday.
In the European carbon market, the benchmark contract CFI2Zc1 was down 0.17 euro at 75.77 euros per metric ton.
(Reporting by Nina Chestney)
((nina.chestney@thomsonreuters.com; nina.chestney.thomsonreuters.com@reuters.net))
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