European gas prices rose as negotiations between Iran and Oman to reopen the Strait of Hormuz failed to convince traders that reaching an agreement would lead to a rapid resumption of global LNG transportation. Europe's natural gas benchmark — Dutch futures prices have risen 8.2% in recent months to 60.09 euros per megawatt hour; as weather forecasts indicate that temperatures will rise and bears are recovering, US gas futures prices have also risen 5.3%.

European gas prices rose as negotiations between Iran and Oman to reopen the Strait of Hormuz failed to convince traders that reaching an agreement would lead to a rapid resumption of global LNG transportation. Europe's natural gas benchmark — Dutch futures prices have risen 8.2% in recent months to 60.09 euros per megawatt hour; as weather forecasts indicate that temperatures will rise and bears are recovering, US gas futures prices have also risen 5.3%.