European natural gas prices remained above €68 per megawatt-hour, their highest level since January 2023, after fresh U.S. measures against Iran intensified concerns about further energy-supply disruptions from the Persian Gulf. The U.S. Treasury said expanded secondary sanctions would target Iran’s digital assets, technology, gold, aviation and shipping sectors, while new sanctions were imposed on 60 entities, individuals and vessels allegedly linked to Iran’s oil revenues, weapons procurement and cyber operations. Europe’s supply risks have also been heightened by the continued blockade of the Strait of Hormuz, which has constrained liquefied natural gas (LNG) deliveries from Qatar. Persistent heatwaves have increased cooling demand, making it harder for Europe to rebuild gas inventories and raising concerns that the region could enter the winter heating season with insufficient supplies.