European natural gas prices steadied at €60.4 per MWh on Friday, holding near a more than two-week high as supply concerns deepened ahead of winter. The market has been rattled by the US threat on Thursday to maintain its naval blockade of Iran indefinitely after ceasefire talks stalled, adding uncertainty around the Strait of Hormuz (a key Gulf shipping route). That disruption has sharply delayed LNG (liquefied natural gas) cargoes from Qatar, pushing European buyers into tougher competition with Asian importers for limited supplies. The squeeze is making it harder and more expensive for Europe to rebuild inventories, with storage sites only 59% full and below historical averages. Heatwaves across Southern and Central Europe have also lifted gas-fired power demand for cooling, diverting supplies away from storage. Prices have risen more than 8% this week.