European natural gas prices slipped below €60 per MWh on Thursday, but the market remained more than 8% higher for the week as traders continued to price in supply risks. Uncertainty over efforts to ease the Middle East conflict and reopen the Strait of Hormuz has kept pressure on the market, while talks between the US and Iran appear to have stalled. President Trump said Washington has full control of the waterway and plans to keep it that way. Shipping disruptions have sharply reduced LNG (liquefied natural gas) flows from the Gulf, delaying cargoes from Qatar and complicating Europe's effort to rebuild gas inventories before winter. Analysts expect prices to retain a firm floor until storage levels show clearer progress ahead of the heating season. Hot weather across Southern and Central Europe has also lifted gas-fired generation to meet cooling demand, drawing supply away from storage injections.