埃琳娜·马兹涅娃（Elena Mazneva）报道：由于交易员们在权衡美国就重启霍尔木兹海峡谈判所释放出的复杂信号，欧洲天然气价格趋于平稳。
By Elena Mazneva European natural gas prices steadied as traders weighed mixed signals from the US on talks with Iran on reopening the Strait of Hormuz.
基准期货价格在上周下跌超过9%后，本周小幅走高。伊朗表示，在美国总统唐纳德·特朗普拒绝其最新提议后，伊朗不会放宽重启霍尔木兹海峡的条件，尽管特朗普也暗示谈判可能于本周恢复。
Benchmark futures ticked slightly higher after dropping more than 9% last week. Iran said it wouldn’t soften its conditions for reopening Hormuz after US President Donald Trump rejected its latest proposal, although Trump also indicated that negotiations could resume this week.
随着审议工作的拖延以及全球冬季供应不确定性的增加，欧洲在供暖季到来前重建其异常低位的天然气库存的时间已所剩无几。霍尔木兹海峡过去承担了全球约五分之一液化天然气的运输量，持续的中断正为全球买家之间激烈的燃料竞争埋下伏笔。
As deliberations drag on and uncertainty over global winter supplies mounts, Europe is running out of time to rebuild its unusually low gas inventories before the heating season. Hormuz used to transit around a fifth of the world’s liquefied natural gas, and the prolonged disruption is setting the stage for intense competition among global buyers of the fuel.
上周，随着关于恢复能源流动的努力传出复杂信号，欧洲天然气价格剧烈波动。据一位知情人士透露，谈判代表曾探讨过一项协议，旨在重启该航道并促使华盛顿解除对伊朗港口的封锁。该协议本应类似于6月中旬达成的谅解备忘录，当时该备忘录促成了脆弱的停火，但随后破裂。
European gas prices fluctuated sharply over the course of last week as mixed signals emerged on efforts to revive energy flows. Negotiators had explored a deal to reopen the waterway and for Washington to lift a blockade of Iranian ports, according to a person familiar with the matter. The agreement would have been similar to the memorandum of understanding reached in mid-June, which led to a fragile ceasefire before collapsing.
总部位于瑞士的Axpo Holding AG公司商业交易主管马尔科·萨尔弗兰克（Marco Saalfrank）表示，今年冬天价格可能会出现剧烈波动；如果欧洲天然气供应中断与欧洲和亚洲的严寒天气同时发生，价格可能会飙升至每兆瓦时100欧元以上。
Prices could move sharply in either direction this winter, potentially surging above €100 a megawatt-hour if disruptions in gas supplies to Europe coincide with severe cold spells in both Europe and Asia, according to Marco Saalfrank, head of merchant trading at Swiss-based Axpo Holding AG.
他补充说，如果通过该海峡的天然气运输中断问题得到解决，或者卡塔尔找到其他液化天然气出口途径，价格也可能下跌。
They could also fall if there is a resolution to gas transit disruptions through the strait, or if Qatar finds other way to export LNG, he added.
“即使价格下跌，我们也不认为它们会立即回到战前水平（即30欧元以下），因为一些不确定性可能会持续存在，”他说道。
“Even if prices fall, we do not expect them to immediately return to pre-war levels — below €30 — as some uncertainty will likely remain,” he said.
目前，欧洲庞大的天然气储存设施填充率约为71%，低于五年季节性平均水平的87%，尽管自8月中旬以来，在经历急剧下降后，液化天然气（LNG）进口量有所回升。在欧洲储气能力最大的德国，相关设施的填充率仅略高于57%。
For now, Europe’s vast gas-storage sites are about 71% full — down from a five-year seasonal average of 87% — although LNG imports have picked up since mid-August after a sharp drop. In Germany, which has Europe’s largest storage capacity, facilities are just over 57% full.
据知情人士透露，由于今年夏季在补充库存方面面临困难，德国已与业界讨论明年实施强制性天然气储气填充计划的可能性。
The country has discussed with industry the idea of mandatory gas-storage filling for next year, after struggling to replenish stockpiles this summer, according to people familiar with the discussions.
作为欧洲天然气基准的荷兰近月期货价格，在阿姆斯特丹时间上午8点40分时上涨至每兆瓦时欧元。
Dutch front-month futures, Europe’s gas benchmark, traded higher at € a megawatt-hour by 8:40 a.m. in Amsterdam.