European Natural Gas Prices Fall on Renewed US-Iran Talks

2026-09-23 01:34 By Judith Sib-at 1 min. read

European natural gas prices fell to around €72/MWh on Wednesday, their lowest level since September 4th, as renewed US-Iran talks revived hopes for a diplomatic resolution.

President Donald Trump said US officials had a very good meeting with Iranian representatives on the sidelines of the UN gathering, though no further details were provided.

Tehran also reportedly signaled a willingness to reopen the Strait of Hormuz within seven days if Washington eases military pressure and lifts its blockade.

Rising numbers of LNG tankers and crude carriers using alternative routes have also alleviated some supply concerns.

However, uncertainty surrounding the conflict and the outlook for energy transportation remains.

Europe’s gas storage facilities are around 69% full, well below the 85% five-year seasonal average, leaving the market vulnerable ahead of the winter heating season.

Norwegian gas exports also remain constrained by maintenance, with bookings falling to 262.5 mcm/day on Tuesday.



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European Natural Gas Prices Fall on Renewed US-Iran Talks
European natural gas prices fell to around €72/MWh on Wednesday, their lowest level since September 4th, as renewed US-Iran talks revived hopes for a diplomatic resolution. President Donald Trump said US officials had a very good meeting with Iranian representatives on the sidelines of the UN gathering, though no further details were provided. Tehran also reportedly signaled a willingness to reopen the Strait of Hormuz within seven days if Washington eases military pressure and lifts its blockade. Rising numbers of LNG tankers and crude carriers using alternative routes have also alleviated some supply concerns. However, uncertainty surrounding the conflict and the outlook for energy transportation remains. Europe’s gas storage facilities are around 69% full, well below the 85% five-year seasonal average, leaving the market vulnerable ahead of the winter heating season. Norwegian gas exports also remain constrained by maintenance, with bookings falling to 262.5 mcm/day on Tuesday.
2026-09-23
European Natural Gas Prices Fall to 3-Week Low
European natural gas prices fell toward €70 per megawatt-hour, their lowest level in three weeks, after reports that Iran could reopen the Strait of Hormuz if the US lifted its blockade of Iranian ports. Japan’s Kyodo News reported that Tehran had proposed reopening the waterway within seven days, potentially providing a basis for diplomatic discussions at the UN General Assembly. President Donald Trump is due to address the assembly and may meet Iranian President Masoud Pezeshkian. Rising numbers of LNG tankers and crude carriers using alternative routes have also eased supply concerns, while LNG demand in Northeast Asia remains weak, particularly in China, Japan and Turkey. In Europe, warmer and drier weather is expected over the next two weeks. Gas storage stood at 69.94% full, up 0.31 percentage points day on day but 11.76 points below last year. Meanwhile, Norwegian gas exports remained constrained by maintenance, with bookings falling to 262.5 million cubic metres per day.
2026-09-22
European Gas Prices Rise After Sharp Drop
European natural gas prices rose toward €74 per megawatt-hour on Tuesday, having slumped nearly 8% to a two-week low in the previous session on renewed diplomatic efforts to end the Middle East war and improving vessel flows. Investors are awaiting developments on potential talks between US President Trump and Iranian President Pezeshkian this week, as any progress toward resolving the conflict could reduce fears of prolonged disruptions to energy flows through the Strait of Hormuz. Meanwhile, reports of increasing numbers of LNG tankers and crude carriers finding alternative routes out of the Gulf have also helped ease supply concerns. Lower-than-expected volumes sought in Germany’s latest gas-storage tenders also added downward pressure on prices, although Germany’s historically low storage levels continue to highlight underlying supply risks ahead of the winter heating season.
2026-09-22