TTF Prices Rise on Renewed US-Iran Tensions

2026-05-08 02:20 By Judith Sib-at 1 min. read

European natural gas futures rose above €44 per MWh on Friday, rebounding after three straight sessions of losses, as renewed fighting between the US and Iran raised uncertainty over the prospects for a peace deal.

The US said its forces struck Iranian military facilities on Thursday in response to attacks on guided-missile destroyers transiting the Strait of Hormuz.

Meanwhile, markets found some relief after President Donald Trump said the ceasefire remains in place despite the strikes, while Iranian TV reported that the situation returned to normal.

The latest clashes came as Washington seeks to de-escalate tensions while awaiting Iran’s response to a proposal to reopen the key waterway.

The near-closure of the strait has choked off around one-fifth of global LNG supply, with the route currently blocked by both sides.

While most Middle East supply goes to Asia, the disruption has tightened global supply, fueling concerns in Europe as it works to refill storage ahead of next winter.



News Stream
TTF Prices Rise on Renewed US-Iran Tensions
European natural gas futures rose above €44 per MWh on Friday, rebounding after three straight sessions of losses, as renewed fighting between the US and Iran raised uncertainty over the prospects for a peace deal. The US said its forces struck Iranian military facilities on Thursday in response to attacks on guided-missile destroyers transiting the Strait of Hormuz. Meanwhile, markets found some relief after President Donald Trump said the ceasefire remains in place despite the strikes, while Iranian TV reported that the situation returned to normal. The latest clashes came as Washington seeks to de-escalate tensions while awaiting Iran’s response to a proposal to reopen the key waterway. The near-closure of the strait has choked off around one-fifth of global LNG supply, with the route currently blocked by both sides. While most Middle East supply goes to Asia, the disruption has tightened global supply, fueling concerns in Europe as it works to refill storage ahead of next winter.
2026-05-08
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