European natural gas prices rose during early trading, extending gains from the previous session, as traders worry that any escalation in tensions between the United States and Iran could disrupt liquefied natural gas (LNG) shipments to the region. The Dutch TTF benchmark gas futures increased by 3.5% to €32.60 per megawatt-hour, after the contract had already climbed more than 5% at the close on Wednesday. Growing concerns in the gas market center on shipments passing through the Strait of Hormuz—particularly supplies from Qatar, the world's second-largest exporter. Analysts at ING noted, "EU gas storage levels continue to tighten, approaching 30% of capacity, and supply risks are accumulating." However, factors such as forecasts for rising temperatures across many parts of Europe, stable supply despite outages at Norwegian gas facilities, and increased renewable energy generation in Germany are helping to ease market pressure and limit price gains.