Shafaq News- Washington/ Tehran

European natural gas prices rose on Friday and remained on track for weekly gains as uncertainty surrounding US-Iran negotiations and concerns over global energy supplies continued to support the market.

According to Bloomberg, benchmark European gas futures have climbed about 7% since last week, with prices reaching their highest level in four months during Thursday's trading session.

The gains were reinforced by data showing a larger-than-expected decline in European gas inventories. Storage facilities across the continent are currently just 41% full, raising concerns about Europe's ability to secure sufficient supplies ahead of the winter season.

Market participants are also closely monitoring developments in the Strait of Hormuz, a key route carrying about 20% of global energy shipments. Analysts warn that any prolonged disruption to traffic through the waterway could intensify competition between Europe and Asia for seaborne liquefied natural gas (LNG) cargoes during the summer months, putting additional upward pressure on prices.

The outlook for European gas remains closely tied to developments in the US-Iran talks, which are seen as a key factor influencing global energy flows and market stability.