UK natural gas prices extended sharp gains on Tuesday, climbing to 151 pence per therm as hopes dimmed for a quick agreement to reopen the Strait of Hormuz, a key energy shipping chokepoint. The shift followed President Trump’s call on Monday for Iran to compensate for people it has killed in conflicts, after Tehran sought compensation for damage from U.S. and Israeli attacks. The standoff has kept pressure on global LNG (liquefied natural gas) supplies, deepening competition between Europe and Asian buyers just as Europe tries to rebuild gas inventories before winter. European gas storage has recently dropped to its lowest seasonal level in records dating back to 2009, while traders are also watching prolonged supply cuts at Norway’s Ormen Lange gas field, Europe’s largest pipeline supplier, for signs of further volatility.