European Gas Prices Drop on Iran Deal Hopes after U.S. Midterms

AI Summary

European benchmark natural-gas prices fell as traders weighed hopes for progress toward resolving the Iran war and restoring LNG flows through the Strait of Hormuz. The Dutch TTF front-month contract was down 2.2% in early trading in Amsterdam.

The benchmark European natural gas prices fell by 2% in the early morning in Amsterdam on Thursday, extending Wednesday’s decline, after the resounding Democratic victory in the U.S. midterm elections raised hopes of a resolution to the Iran war and a return of LNG flows through the Strait of Hormuz.  The front-month price at the Dutch Title Transfer Facility (TTF), the benchmark for Europe’s gas trading, fell by 2.2% as of 9 a.m. in Amsterdam on Thursday, as energy markets hope the path forward to the Iran war could be pursuit…