Commodities
EUR74 Gas Prices Rise as Diplomats Seek Middle East Conflict Resolution
European natural gas prices rose to around EUR74 per megawatt-hour on Tuesday, after falling almost 8% in the prior session due to diplomatic efforts aimed at ending the Middle East war.
The decline followed renewed diplomatic efforts between US President Donald Trump and Iranian President Pezeshkian, which raised hopes of a resolution to the conflict.
Market participants are watching for developments on possible talks this week between the two leaders, as any movement toward resolving the conflict could ease concerns about extended disruptions to energy flows through the Strait of Hormuz.