European gas prices rise more than 2% after President Trump rejected Iran’s truce proposal, fueling concerns over prolonged disruptions to LNG flows ahead of winter. In early trading, the benchmark Dutch TTF contract is up 2.4% to 73.63 euros a megawatt-hour. “Lower Norwegian pipeline flows due to maintenance and subdued LNG traffic through Hormuz continue to tighten the market,” analysts at ANZ say. “Meanwhile, a rebound in Chinese LNG imports highlights the risk of stronger Asian competition for cargo, leaving European gas prices vulnerable to winter demand and further supply shocks.” EU storage levels are currently 70% full.