European natural gas prices rose toward €73/MWh on Monday after falling the previous week, as President Donald Trump rejected Iran’s seven-day proposal to reopen the Strait of Hormuz. The decision renewed concerns about extended disruptions to Persian Gulf energy supplies. Reports that Trump expects to resume bombing Iran after the November midterms added uncertainty, although he said talks with Tehran could resume this week. Iran has restated its commitment to diplomacy while maintaining its existing conditions. Europe’s gas inventories, around 70% full, remain below the five-year seasonal average and the EU’s target as winter approaches. The EU has warned of a potential energy price crisis and urged members to reduce demand and continue replenishing storage.