Trump Has Turned Around Gas Prices In The European Union
1- 10.03.2026, 13:06
- 1,438
The benchmark futures for "blue fuel" fell by 17%.
Natural gas prices in the European Union fell after U.S. President Donald Trump predicted the war in Iran will end soon.
The Bloomberg notes that benchmark blue fuel futures fell 17%, the biggest intraday drop since 2023.
Trump doesn't believe the conflict will end this week, but emphasized that the operation is ahead of schedule and could be completed "very soon."
The U.S. president's words have somewhat calmed energy markets, but "they are of limited effect," said ING Groep NV strategists Warren Patterson and Eva Mantei. They said energy supplies through the strategically important Strait of Hormuz must be resumed to keep prices down.
The publication notes that about a fifth of the world's liquefied natural gas flows through the strait, mostly from the world's largest plant in Qatar, which has been offline since last week.
"Although Iran has repeatedly said the route is open, traffic has virtually stopped since the conflict began. Attacks in the region have yet to subside, with several Middle Eastern countries announcing missile threats, turning on sirens or intercepting drones on March 10," the journalists note.
Bloomberg adds that the war in Iran has caused disruptions in gas trade. The journalists make clear that its prolongation could complicate EU gas purchases for next winter, and note that several LNG ships have already changed course and are now heading to Asia.
"There will be a fierce battle for LNG, which is likely to remain fierce until some stability is restored in the Gulf region," said Marex energy markets analyst Ben Samuel.
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