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07.04.202606:39:08UTC+00TTF Prices Rise Further

European natural gas futures rose to €50.7 per MWh, extending their rebound from a more than three-week low as the deadline set by President Trump for Iran to reopen the Strait of Hormuz approached, with no indication that Tehran would comply. Trump warned that failure to reopen the strategic waterway would trigger US strikes on Iranian power plants and other civilian infrastructure. On Monday, Iran rejected both the ultimatum and a mediated proposal for a temporary ceasefire, escalating tensions and intensifying concerns over a deeper global supply squeeze. With Europe’s gas storage critically low at about 28%, the region remains highly exposed to supply disruptions, particularly as competition with Asian buyers for LNG cargoes grows. Even so, the rally in gas prices was partly restrained by milder weather and increased renewable power generation, which are curbing demand. At the same time, two Qatari LNG carriers halted an attempt to exit the Strait in what would have been the first Qatari LNG exports since the war began.

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