European natural gas prices have increased as attacks in the Middle East continue. Concurrently, U.S. President Donald Trump has intensified pressure on various nations to assist in reopening the Strait of Hormuz.

Driven by rising oil prices, benchmark futures reversed Friday's declines during early trading. This follows a U.S. strike on parts of Iran's Kharg Island, which handles a significant portion of the country's oil shipments, prompting retaliatory strikes by Iran on Israel and Arab nations. The key Emirati port of Fujairah, located outside the Strait of Hormuz, was attacked again on Monday, forcing a suspension of oil loading operations.

The Middle East conflict has entered its third week with no signs of abating, increasingly impacting energy markets.

President Trump stated that he has "asked" other countries to contribute to safeguarding the critical Strait of Hormuz. Aside from expressing a desire for nations such as France, Japan, and South Korea to deploy naval vessels, he provided no further details.