Overview
- Gas futures rose on Monday as traders priced in continued disruption, with Dutch front‑month contracts up about 2.9% to roughly €56.90 per megawatt‑hour and British wholesale gas up about 2.6%.
- Negotiations between Iran and Oman remain unresolved after Iran attached extra conditions to the proposed shipping arrangement and said it will not hold direct talks with Washington.
- Shipping through the Strait of Hormuz is still restricted and LNG cargoes from major Middle East exporters such as Qatar are being delayed, cutting available spot volumes.
- European Union gas storage sits around 56% of capacity in mid‑August, below normal levels, and competition from Asian buyers is making it harder for European buyers to refill inventories.
- Markets are set to stay sensitive to diplomatic moves because insurers, sanctions rules and U.S. positions will shape whether any corridor can start and how quickly supplies return, which could raise winter price and supply risks.