FX.co ★ TTF Prices Rebound

European natural gas prices rose just over 1% to €46.2 per megawatt-hour, rebounding from a two-week low, as renewed uncertainty over a potential Middle East peace deal emerged following fresh US military action in the region. According to reports, the US carried out “self-defense strikes” on Iranian missile launch sites and boats near the Strait of Hormuz. These latest strikes occurred despite ongoing diplomatic efforts, with President Donald Trump stating that an agreement with Iran is within reach. Although most gas exports from the Persian Gulf are typically directed to Asia, any prolonged disruption in the strait would tighten global supply and heighten competition among importing regions. This dynamic complicates Europe’s efforts to replenish its relatively low gas storage levels ahead of the coming winter.