Europe's Gas Prices Ease but Remain Elevated Amid Middle East Uncertainty

European gas prices have declined but remain elevated as supply concerns persist amid uncertainty over efforts to resolve the Middle East conflict and reopen the Strait of Hormuz.

Talks between the US and Iran appear to have hit an impasse, with both sides taking a firmer stance, according to President Trump, who insists that Washington has full control of the key waterway and intends to keep it that way.

Shipping disruptions have sharply curtailed LNG flows from the Gulf, significantly delaying cargoes from major exporter Qatar and making it difficult for Europe to rebuild gas inventories ahead of winter.