European natural gas prices extended gains on Tuesday, rising above €62 per MWh as hopes faded for a Middle East agreement that could help reopen the Strait of Hormuz (vital Gulf shipping route). President Trump said he was in no rush to resolve the conflict and warned of military action against Oman if it obstructed US efforts to reach an agreement with Iran. Separate talks between Iranian and Omani officials on a provisional framework for shipping through the strait have produced no concrete result. The ongoing maritime blockade has delayed LNG (superchilled natural gas) cargoes from Qatar, reducing supply available to Europe, while heatwaves across parts of Europe have lifted gas-fired power demand for air conditioning. Together, those pressures are slowing inventory replenishment and increasing strain on European storage levels ahead of the winter heating season.