European gas prices rise on reports of Iranian mines in Hormuz

Tenders for LNG for delivery in March have remained unawarded, indicating a shortage of immediately available fuel.

This is raising concerns in Southeast Asia, where hotter weather in the months ahead is expected to raise power demand.

The region will also need to compete with European buyers looking to refill storage for their heating season, said Daniel Hynes, senior commodity strategist at ANZ. Across Northwest Europe, average temperatures are now expected to start falling, with the day ahead being 0.8 degrees Celsius lower, and expected to hit a minimum on Sunday, LSEG data showed.

(Reporting by Marwa Rashad; Editing by Harikrishnan Nair)