European Gas Holds Gain

2026-06-30 03:11 By Judith Sib-at 1 min. read

European natural gas prices hovered around €42.7 per MWh on Tuesday after rallying more than 4% in the previous session, as investors looked ahead to US–Iran talks in Qatar following weekend strikes from both sides that stoked supply fears.

President Donald Trump said negotiations with Tehran are set to resume today after both sides agreed to halt a series of back-and-forth attacks over the Strait of Hormuz.

Meanwhile, hotter weather across Europe is ramping up gas-fired power generation to meet air conditioning demand, tightening supply conditions.

The region continues to struggle to rebuild inventories to historical norms, with storage facilities currently around 48% full on average, raising concerns that the region could enter the winter season with the lowest gas reserves in 15 years.

EU gas prices are on track for a roughly 7% monthly decline and a 16% loss for the second quarter.



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European Gas Holds Gain
European natural gas prices hovered around €42.7 per MWh on Tuesday after rallying more than 4% in the previous session, as investors looked ahead to US–Iran talks in Qatar following weekend strikes from both sides that stoked supply fears. President Donald Trump said negotiations with Tehran are set to resume today after both sides agreed to halt a series of back-and-forth attacks over the Strait of Hormuz. Meanwhile, hotter weather across Europe is ramping up gas-fired power generation to meet air conditioning demand, tightening supply conditions. The region continues to struggle to rebuild inventories to historical norms, with storage facilities currently around 48% full on average, raising concerns that the region could enter the winter season with the lowest gas reserves in 15 years. EU gas prices are on track for a roughly 7% monthly decline and a 16% loss for the second quarter.
2026-06-30
European Gas Prices Advance
European natural gas prices rose to €42.8 per MWh on Monday, extending Friday's gains as the latest flare-up in the Middle East reignited supply concerns. Shipping traffic through the Strait of Hormuz had picked up in recent weeks but slowed following fresh attacks on vessels since Thursday, including a Qatar-linked oil tanker. This prompted strikes from the US and Iran over the weekend, marking the worst escalation since the two sides signed an interim peace agreement. However, Axios reported that the two countries have agreed to suspend further attacks and resume negotiations in Qatar on Tuesday. Weather conditions also supported gas prices, as a heatwave across Europe boosted gas demand from power generators to meet increased cooling needs.
2026-06-29
European Gas Near 2-Month Lows
European natural gas prices fell to around €40.6 per MWh, nearing an over two-month low, as shipping activity through the Strait of Hormuz showed signs of normalization following progress in US-Iran peace talks. Several empty Qatari LNG carriers have entered the Gulf in recent days to reload, signaling a potential recovery in gas shipments. However, an attack on a cargo ship by an unidentified projectile while sailing southeast of Oman renewed concerns over the security of the vital route. Meanwhile, Qatar's Prime Minister indicated that LNG production is expected to return to normal within a few weeks, apart from the damaged facility. The prospect of resumed LNG flows from the Gulf eased fears of a supply crunch and could help Europe replenish inventories ahead of next winter. This also offset support from strong power-sector demand amid hot weather and low wind speeds across Europe.
2026-06-25