TTF Prices Plunge on US-Iran Ceasefire

2026-04-08 06:22 By Judith Sib-at 1 min. read

European natural gas futures declined more than 15% to around €45 per MWh on Wednesday, the lowest level in five weeks, after President Donald Trump agreed to delay planned strikes on Iran for two weeks in exchange for Iran allowing safe passage through the Strait of Hormuz.

The ceasefire came less than two hours before Trump’s deadline, after which he had threatened to “wipe out a whole civilization.” Iran said its military would coordinate transit through the Strait, while Trump noted that negotiations appeared to be making progress, citing a 10-point proposal from Iran that he described as a “workable basis” for a longer-term peace framework.

The temporary pause offers both sides a window to reach a longer agreement to end the six-week-old war, which has severely disrupted global energy flows.

Traffic through the waterway has fallen sharply since the conflict began in late February, while roughly 20% of global LNG supply from Qatar remains cut off.



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