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UK natural gas futures climbed further above 128 pence per therm, hitting a near six-week high amid persistent supply disruptions in the Persian Gulf. US-Iran negotiations remained at an impasse, with both sides holding firm positions and keeping the Strait of Hormuz largely inaccessible. President Donald Trump warned Iran of potential consequences if a deal were not reached swiftly, stressing that his patience was running out. A drone attack on a UAE nuclear facility over the weekend further underscored the fragility of the ceasefire. Meanwhile, Trump and Chinese President Xi Jinping agreed in principle that the strait should remain open, but no concrete measures were announced to restore normal transit conditions. LNG deliveries to Europe have been disrupted since the conflict erupted in late February, especially after fighting spread to major production sites in Qatar. The situation has intensified concerns across Europe as the region works to rebuild gas storage levels ahead of next winter.
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