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Commodities

Trump's Iran Reversal Sparks European Gas Price Plunge

Guavy AI Editorial Team
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Oil Natural Gas
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European natural gas prices plummeted on Monday after US President Donald Trump announced he was calling off a planned attack on Iranian energy sites and restarting talks.

The Dutch TTF Natural Gas Futures dropped by 4% at the start of trade, following a 5% decline in oil prices amid renewed hopes for diplomacy between the US and Iran.

However, natural gas prices eased their losses mid-day as Europe faces another heatwave that boosts electricity demand.

Hungary is shutting down its Paks Nuclear Power Plant due to low water levels in the Danube River, which has also led to a reduction in nuclear power output from Romania's plants.

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