European natural gas futures fell to €44.8 per MMBtu on Tuesday, giving back part of the previous session’s gains as prospects for ongoing peace talks between the US and Iran eased concerns over further supply disruptions. President Donald Trump said Iran had contacted Washington about a potential agreement, while Iran’s president reiterated that Tehran remains prepared to pursue dialogue within the framework of international law.
These statements came as the US military on Monday began a blockade of vessels bound for or departing from Iranian ports, following unsuccessful talks held over the weekend in Pakistan. At the same time, Asian LNG imports have dropped to their lowest level in nearly six years, which could temporarily ease competition for cargoes among European buyers. Additionally, milder weather conditions across Europe are expected to curb heating demand in the coming weeks, exerting further downward pressure on prices.
