European natural gas futures fell below €44 per MWh on Thursday, extending losses from the previous session, as markets weighed prospects of a US-Iran deal that could lead to the gradual reopening of the Strait of Hormuz. Washington and Tehran are reportedly moving closer to an agreement on a one page of memorandum to end their conflict, with Iran expected to respond in the coming days. The latest US proposal came after President Trump briefly suspended an initiative to provide safe passage for vessels through the strait. The effective closure of the vital waterway has choked off around one-fifth of global LNG supply, with the route currently facing a dual blockade from both sides. While most gas from the Persian Gulf are directed toward Asia, the disruption has tightened global supply, raising concerns in Europe as the region needs to replenish inventories before next winter.

TTF Gas fell to 43.23 EUR/MWh on May 7, 2026, down 1.52% from the previous day. Over the past month, TTF Gas's price has fallen 4.56%, but it is still 21.36% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, EU Natural Gas reached an all time high of 345 in March of 2022. EU Natural Gas - data, forecasts, historical chart - was last updated on May 7 of 2026.

TTF Gas fell to 43.23 EUR/MWh on May 7, 2026, down 1.52% from the previous day. Over the past month, TTF Gas's price has fallen 4.56%, but it is still 21.36% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. EU Natural Gas is expected to trade at 47.48 EUR/MWh by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 57.17 in 12 months time.



Price Day Month Year Date
Crude Oil 94.05 -1.030 -1.08% -0.38% 56.99% May/07
Brent 100.26 -1.013 -1.00% 5.81% 59.54% May/07
Natural gas 2.71 -0.0168 -0.62% -0.40% -24.47% May/07
Gasoline 3.44 -0.0146 -0.42% 14.60% 64.52% May/07
Heating Oil 3.75 -0.0372 -0.98% -1.58% 82.58% May/07
TTF Gas 43.34 -0.56 -1.28% -4.33% 21.65% May/07
UK Gas 106.24 -1.3177 -1.23% -7.01% 24.49% May/07
Ethanol 1.97 -0.0600 -2.96% 0.77% 14.58% May/06
Naphtha 827.24 -70.33 -7.84% -18.13% 56.63% May/06
Propane 0.86 -0.03 -3.53% 10.58% 21.59% May/06
Uranium 86.25 -0.2000 -0.23% 1.29% 23.04% May/06
Methanol 3,250.00 44.00 1.37% -8.53% 40.51% May/06



Related Last Previous Unit Reference
Germany Natural Gas Imports 361695.60 343579.34 Terajoule Mar 2026
France Natural Gas Imports 170169.56 150573.90 Terajoule Mar 2026
Germany Natural Gas Stocks Inventory 67.38 67.29 TWh May 2026
France Natural Gas Stocks Inventory 43.21 42.79 TWh May 2026

EU Natural Gas
Dutch TTF Gas is a leading European benchmark price as the volumes traded represent more than 14 times the amount of gas used by the Netherlands for domestic purposes. Contracts are for physical delivery through the transfer of rights in respect of Natural Gas at the Title Transfer Facility (TTF) Virtual Trading Point, operated by Gasunie Transport Services (GTS), the transmission system operator in the Netherlands. Delivery is made equally each hour throughout the delivery period from 06:00 (CET) on the first day of the month until 06:00 (CET) on the first day of the next month. Futures are available for trading in the Intercontinental Exchange Inc. (ICE). Prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our natural gas market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. The data is supplied by a third party and, while efforts are made to ensure its accuracy, Trading Economics does not verify the data and makes no representations or warranties regarding its accuracy..
Actual Previous Highest Lowest Dates Unit Frequency
43.23 43.90 345.00 3.37 2010 - 2026 EUR/MWh Daily

News Stream
TTF Prices Continue to Fall, US-Iran Deal in Focus
European natural gas futures fell below €44 per MWh on Thursday, extending losses from the previous session, as markets weighed prospects of a US-Iran deal that could lead to the gradual reopening of the Strait of Hormuz. Washington and Tehran are reportedly moving closer to an agreement on a one page of memorandum to end their conflict, with Iran expected to respond in the coming days. The latest US proposal came after President Trump briefly suspended an initiative to provide safe passage for vessels through the strait. The effective closure of the vital waterway has choked off around one-fifth of global LNG supply, with the route currently facing a dual blockade from both sides. While most gas from the Persian Gulf are directed toward Asia, the disruption has tightened global supply, raising concerns in Europe as the region needs to replenish inventories before next winter.
2026-05-07
TTF Prices Fall Further
European natural gas futures plunged more than 8% to below €43 per megawatt hour on Wednesday, as optimism grew over a potential US-Iran agreement to end the conflict. Reports indicated that Washington and Tehran are close to a preliminary deal that could pave the way for broader nuclear negotiations, boosting hopes of de escalation and easing supply risks. President Donald Trump also announced a temporary halt to “Project Freedom,” a military effort aimed at securing shipping through the Strait of Hormuz, citing progress in talks. The conflict and near closure of the key waterway had disrupted around one fifth of global LNG supply, driving prices higher and unsettling energy markets. Although most Middle East gas flows to Asia, the disruption has tightened global supply and raised concerns in Europe, which needs to rebuild inventories ahead of winter. Storage levels are currently around 34%, well below the five year average, keeping traders cautious despite the improved outlook.
2026-05-06
TTF Prices Ease Further
European natural gas futures fell to €45.7 per MWh, retreating further from a four-week high after President Trump hinted at progress toward a peace deal with Iran. Trump said that operations to escort stranded ships out of the Strait of Hormuz would be briefly paused in a bid to reach a deal with Iran to end the war. However, he maintained restrictions on Iranian ports. This followed comments from Secretary of State Marco Rubio, who said the ceasefire remains intact and that the initial US-Israeli offensive in Iran was over after achieving its objectives. Meanwhile, Iran denied carrying out attacks against the UAE and warned of retaliation if Abu Dhabi launches strikes on its territory. The strait has been effectively closed for the past two months, cutting roughly one-fifth of global LNG supply. Prices have climbed about 40% since the start of the conflict, although they have recently eased amid weak demand from some Asian buyers.
2026-05-06