European natural gas prices jumped around 8% on monday:our amid uncertainty over the normalization of shipping through the Strait of Hormuz. Benchmark Dutch TTF futures climbed to nearly $70 per megawatt-hour as of 1345GMT, recouping most of the previous week's losses, according to market data.

According to Anadolu Agency, Iran and Oman remained short of a final agreement over the weekend after Tehran renewed a lengthy list of demands for Washington as conditions for fully reopening the strategic waterway. Although Iran indicated that a deal was close, it cautioned that this would not result in the strait reopening immediately and again ruled out direct negotiations with the US.

Continued uncertainty has raised concerns that disruptions to liquefied natural gas shipments through the key route could persist, further delaying cargoes from major exporters such as Qatar. The delays have tightened global gas supplies, intensified competition between European and Asian buyers for available LNG cargoes, and complicated Europe's efforts to replenish storage facilities ahead of winter.