
European natural gas prices fell more than 6% to around €45.7 per megawatt hour, their lowest level in two weeks, amid signs of progress toward a US–Iran agreement that could restore energy flows through the Strait of Hormuz. President Donald Trump said on Saturday that a peace deal with Iran was close, although he later advised negotiators not to rush the agreement, adding that the US blockade would remain in place until a final deal is secured. Iran, however, warned that the draft agreement could still fail, accusing the US of continuing to obstruct key clauses, including its request to unfreeze its overseas assets. The hostilities and near closure of the key waterway have disrupted around one-fifth of global LNG supply, driving prices higher and unsettling energy markets.
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