Natural gas prices in Europe have fallen following remarks by US President Donald Trump suggesting the end of the war might be near.
On Tuesday, gas prices on the leading Dutch futures market dropped by 16%, reaching €48 per megawatt-hour.
Similar to oil, natural gas prices had surged after the onset of US-Israeli attacks on Iran. Concerns persist about a prolonged conflict, which could keep supply under strain.
The Strait of Hormuz remains blocked due to the war. This critical passage is key not only for oil shipments but also for liquefied natural gas (LNG), which Europe depends on as it aims to reduce reliance on Russian pipeline gas.
Europe faces significant challenges in this tight market. Gas reserves must be replenished following the winter, while the continent competes with Asia for LNG supplies.
