EU Gas Prices Hold Amid Ongoing Supply Concerns

European natural gas prices have stabilized around €56.7 per MWh after a sharp decline in the previous session, despite ongoing concerns about Europe's gas supply.

The stability comes as US President Donald Trump expressed optimism about diplomatic efforts to ease tensions with Iran, stating that 'we're having good talks' and there's a chance of reaching a deal.

However, he also warned that US strikes would resume if negotiations failed. This pause in hostilities has allowed room for diplomacy, but the conflict's renewed escalation in early July disrupted LNG exports from Qatar, the Middle East's largest supplier.

The Strait of Hormuz remains largely closed, making it uncertain when additional supplies from the region could reach global markets.