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European gas prices fall 4% after Trump calls off Iran energy attack
Dutch TTF Natural Gas Futures eased from their morning drop later in the day as a heatwave lifted electricity demand, while the Danube’s lowest water levels in nearly 90 years have forced some nuclear curtailments in Hungary and Romania.
European natural gas prices dropped at the open Monday after U.S. President Donald Trump said he had called off a planned attack on Iranian energy sites, with talks on a deal expected to begin this week, according to OilPrice. Europe’s benchmark Dutch TTF Natural Gas Futures fell 4% at the start of trade, following a 5% slump in oil prices as expectations rose that the U.S. and Iran may return to diplomacy. The decline moderated mid-day, the outlet said, as Europe faces another heatwave that boosts electricity demand and supports gas consumption. Separately, the heatwave and a lack of rainfall have contributed to Danube water levels at the lowest point in nearly 90 years, prompting Hungary and Romania to curb nuclear output that relies on river water for reactor cooling. OilPrice added that Hungary is set to shut down the Paks Nuclear Power Plant for the first time in 44 years on Monday, and that any temporary U.S.-Iran accommodation could also affect LNG flows out of the Persian Gulf via the Strait of Hormuz.
Latest closeNat gas $2.792 ▲1.2%