Natural gas prices remain elevated, trading at roughly twice last year's levels as the Iran conflict continues without resolution.

European governments are preparing for a fresh surge in household energy costs this winter, with analysts warning that volatile oil and gas markets could push utility bills even higher.

The ongoing geopolitical uncertainty surrounding Iran has kept supply concerns front of mind for traders, while demand recovery in Asia adds further upward pressure on prices.

Economists at Bloomberg Markets project that the combination of tighter supplies and colder weather could increase heating costs for households across the European Union by 15-20% compared to last year.