-- European natural gas futures extended their gains for a second session during Tuesday's late trading, climbing amid markets' reaction to ongoing debates surrounding US-Iran peace talks.
The front-month Dutch TTF futures price was up 6.783% to 43.025 euros per megawatt hour ($50.53), while UK NBP futures rose 6.455% to 107.85 British pence per therm ($1.46).
With a ceasefire deadline looming, US President Donald Trump on Tuesday expressed optimism about the proposed talks, but warned the US is prepared to resume strikes if they fail. Iran's lead negotiator said Tehran will not negotiate "under the shadow of threat" and signaled readiness to escalate if fighting resumes.
Tensions also rose at sea. Iran demanded the release of a seized cargo ship and threatened retaliation, while a US naval blockade tightened around the Strait of Hormuz. The Pentagon said US forces boarded another sanctioned tanker overnight to disrupt support for Iran.
Meanwhile, EU inventories were filled to just over 30% of capacity, compared with 37% a year ago. European stock levels were in the injection phase to refill ahead of winter, despite high prices and a lack of readily available spot cargoes due to the conflict in the Middle East.