European Gas Prices Decline

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

European natural gas futures fell 2% to below €40 per MWh on Tuesday, erasing part of the gains from the prior session 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.



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