European natural gas rally paused after benchmark futures eased following a roughly 10% gain over the past three sessions. Markets were encouraged by Trump saying a new round of US strikes on Iran may "end quickly" and again asserting Washington "controls the Strait of Hormuz," which eased fears of a prolonged Middle East conflict that had lifted energy prices. Despite the pullback, European gas contracts remain more than double pre-war levels and seasonal gas storage for the coming winter is un

European natural gas rally paused after benchmark futures eased following a roughly 10% gain over the past three sessions. Markets were encouraged by Trump saying a new round of US strikes on Iran may "end quickly" and again asserting Washington "controls the Strait of Hormuz," which eased fears of a prolonged Middle East conflict that had lifted energy prices. Despite the pullback, European gas contracts remain more than double pre-war levels and seasonal gas storage for the coming winter is unusually low, raising the risk of intensified global competition for supplies if temperatures fall.