European Natural Gas Prices Rise About 7% Since Last Friday

European natural gas prices have climbed roughly 7 percent since last Friday, reaching their highest level in four months on Thursday, according to Bloomberg data. The increase followed the stalling of negotiations between the United States and Iran. Storage facilities across Europe are operating at only 41 percent capacity, and inventories have declined more than expected, raising concerns about the continent's ability to secure energy supplies in the coming months. Disruptions in the Strait of Hormuz or maritime shipping delays could intensify competition between Europe and Asia for liquefied natural gas shipments, potentially pushing prices higher. Oil prices remained largely unchanged Friday morning after sharp losses in the previous session. Meanwhile, Hezbollah's rejection of a new ceasefire in Lebanon has reduced expectations that geopolitical tensions in the Middle East will ease in the near term.