European Gas Prices Drop

2026-04-21 02:17 By Judith Sib-at 1 min. read

European natural gas futures fell over 3% toward €39 per MWh on Tuesday, almost wiping out the previous session’s gains as traders looked ahead to a second round of peace talks between the US and Iran.

Iran is reportedly preparing to send a delegation after previously signaling reluctance to participate.

However, uncertainty persists as President Trump said he is unlikely to extend the two-week ceasefire, which is set to expire on Wednesday, and reiterated that the Strait of Hormuz would remain closed until a deal is reached.

Traffic through the strait was halted again over the weekend as tensions escalated, with ships coming under fire and Iran warning that vessels attempting to pass through the waterway could be targeted.

Several LNG tankers from Qatar were reported to have approached the strait in recent days but were either forced to turn back or remained idle.

Since the war began in late February, no LNG exports have left the region, disrupting around 20% of global LNG supply.



News Stream
European Gas Prices Drop
European natural gas futures fell over 3% toward €39 per MWh on Tuesday, almost wiping out the previous session’s gains as traders looked ahead to a second round of peace talks between the US and Iran. Iran is reportedly preparing to send a delegation after previously signaling reluctance to participate. However, uncertainty persists as President Trump said he is unlikely to extend the two-week ceasefire, which is set to expire on Wednesday, and reiterated that the Strait of Hormuz would remain closed until a deal is reached. Traffic through the strait was halted again over the weekend as tensions escalated, with ships coming under fire and Iran warning that vessels attempting to pass through the waterway could be targeted. Several LNG tankers from Qatar were reported to have approached the strait in recent days but were either forced to turn back or remained idle. Since the war began in late February, no LNG exports have left the region, disrupting around 20% of global LNG supply.
2026-04-21
TTF Prices Surge as Hormuz Closes Again
European natural gas futures rose more than 4% to above €40 per MWh on Monday after surging as much as 11% in early Asian trading, reversing Friday’s losses as Iran once again shut the Strait of Hormuz in response to the ongoing US blockade of its ports. Tensions escalated further after the US fired on and disabled an Iranian-flagged cargo ship, prompting Tehran to launch drone attacks against some US military vessel and warn that ships attempting to pass the waterway would be attacked. Reports also suggested that Iran would not participate in a second round of peace talks, despite Trump’s threat of renewed airstrikes. The latest escalation came after Iran stated on Friday that the vital waterway had reopened. Several LNG tankers carrying Qatari fuel reportedly approached the strait in recent days but were forced to turn back or idled. Since the conflict began in late February, no LNG exports have left the region, disrupting roughly 20% of global LNG supply.
2026-04-20
TTF Prices Tumble 8%
European natural gas futures plunged more than 8% to below €39 per megawatt hour, the lowest since February 27, after Iran’s Foreign Minister Abbas Araghchi said the Strait of Hormuz is fully open to commercial vessels during the ceasefire. The announcement boosted hopes that one of the worst energy supply disruptions in recent history may be easing, supporting expectations of de-escalation. The comments followed earlier remarks from President Donald Trump, who said Iranian concessions could help secure a broader peace deal, while adding that a US naval blockade targeting Iran would remain in place until negotiations are fully concluded. The conflict had severely disrupted global LNG flows, with the near closure of Hormuz cutting around a fifth of supply and pushing Asian imports to multi-year lows, potentially easing competition for Europe. Prices were also pressured by warmer weather and stronger wind generation across parts of the region, reducing demand.
2026-04-17