TTF Prices Fall as Trump Considers Iran Peace Proposal

European natural gas futures fell to around €43.4 per MWh, as traders now look to President Trump’s response to Iran’s proposal to reopen the key shipping route. The White House said US officials were reviewing Iran’s latest proposal but maintained red lines on any agreement to end the war. The proposal includes reopening the strait in exchange for Washington lifting its blockade on Iranian ports, with discussions on Tehran’s nuclear program to be held at a later date. This followed the collapse of a second round of talks in Pakistan over the weekend after delegations from both sides pulled out. The strait remains largely impassable, with both sides maintaining restrictions around the key waterway, disrupting flows of roughly one-fifth of global LNG supply. Traders are monitoring Europe’s LNG imports, as the region needs to secure fuel this summer to replenish storage levels ahead of next winter.

European natural gas futures rose to around €45.2 per MWh, their highest level in two weeks, as Iran’s latest proposal failed to ease concerns over the blockade of the Strait of Hormuz. The White House said US officials were reviewing Iran’s latest proposal but maintained red lines on any agreement to end the war. The proposal includes reopening the strait in exchange for Washington lifting its blockade on Iranian ports, with discussions on Tehran’s nuclear program to be held at a later date. This followed the collapse of a second round of talks in Pakistan over the weekend after delegations from both sides pulled out. The strait remains largely impassable, with both sides maintaining restrictions around the key waterway, disrupting flows of roughly one-fifth of global LNG supply. Traders are monitoring Europe’s LNG imports, as the region needs to secure fuel this summer to replenish storage levels ahead of next winter.

European natural gas futures traded near €45 per MWh on Monday, hovering at their highest level since April 13, as a second round of US–Iran peace talks failed to materialize, keeping tensions around the Strait of Hormuz elevated. Hopes of a diplomatic breakthrough were dampened over the weekend after President Donald Trump canceled his envoy’s planned trip to Pakistan, while Iran rejected talks conducted under threat. Both sides continue to maintain restrictions around the Strait, making the key waterway difficult to navigate. Meanwhile, Iran has reportedly given a new proposal to the US to reopen the Strait and end the war, while postponing nuclear talks to a later stage. LNG exports from the Persian Gulf have effectively come to a standstill since the conflict began in late February, cutting off roughly one-fifth of global supply. Investors are closely watching Europe’s LNG imports, as the region needs to secure fuel this summer to refill storage ahead of next winter.