Europe's Natural Gas Futures Fall to €59.4/MWh as Geopolitical Tensions Ease

Europe’s natural gas futures prices fell to €59.4/MWh yesterday, down from six-week highs as hopes for U.S.-Iran agreement and potential reopening of the Strait of Hormuz relieved market concerns. President Trump paused military action against Iran after three Gulf allies requested additional negotiation time. Supply disruptions remain acute: approximately one-fifth of global liquefied natural gas shipments have been halted since conflict escalated in late February, with hostile actions now extending to Qatar’s critical production facilities. The ongoing crisis threatens Europe’s gas storage refill ahead of the upcoming winter season.