Trump Comments Send European Gas Prices Soaring on Iran Tensions

European natural gas prices jumped by as much as 5.1% following comments from US President Donald Trump on Iran, according to reporting on the move.

The increase marks a reversal back toward the highs of recent weeks and is part of a months-long pattern where the Dutch TTF benchmark for continental European gas has swung sharply in response to every twist in Washington's standoff with Tehran.

Since fighting between the US and Iran began in late February, TTF prices have repeatedly moved 4-18% on a single session due to Trump's public statements, threats, deadlines, and reversals. There is no change in physical supply required to trigger these moves.

The Strait of Hormuz is a critical choke point for global LNG supply, with roughly a fifth of the world's exports passing through it. Traders price rhetoric that raises or lowers the odds of a fuller closure almost instantly due to Europe's limited slack to absorb a real disruption.