EUROPE GAS-European gas prices rise as hopes fade on quick end to Iran war

LONDON, April 2 (Reuters) - Benchmark Dutch and British wholesale gas prices rose on Thursday morning, as U.S. President Donald Trump vowed more aggressive strikes on Iran without committing to a specific timeline to end the war, unsettling investors worried about prolonged disruptions to global supply.

The benchmark Dutch front-month contract at the TTF hub TFMBMc1 opened 6.25% higher at 50.48 euros per megawatt hour (MWh), before trimming gains to 3.56% at 49.20 euros/MWh, or around $16.62/mmBtu, by 0853 GMT, ICE data showed.

The British April contract NGLNMc1 was up 3.57% at 124.98 pence per therm, after it opened 5.9% higher, ICE data showed.

"We're going to hit them extremely hard over the next two to three weeks. We're going to bring them back to the Stone Ages where they belong."

Trump also suggested the war could escalate if Iranian leaders did not give in to U.S. terms during negotiations, with strikes on Iran's energy and oil infrastructure possible.

"Middle East developments remain the dominant swing factor. The absence of clarity or timeline was not what markets expected, while hopes of a rapid reopening of the Strait of Hormuz were pushed back," said Wayne Bryan, gas research principal at LSEG.

"With the Easter holiday approaching, risk sensitivity is likely to remain elevated."

Roughly a fifth of the world's LNG typically passes through the Strait of Hormuz, but shipping through the narrow waterway has come to a near-standstill since the U.S. and Israel began strikes on Iran on February 28.

From a fundamental perspective, gas consumption is forecast notably weaker on the day ahead both for heating and for power generation, while storage injections are underway as the market enters day two of the injection season, Bryan said.

In the European carbon market, the benchmark contract CFI2Zc1 was down 0.86 euro at 73.78 euros a metric ton.