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Energy Prices · European Natural Gas · Geopolitical Risk · Middle East Diplomacy
European natural gas prices plummeted over 7%, falling below $58 per megawatt-hour, as easing supply concerns and intensified diplomatic efforts in the Middle East, including US-led negotiations for a ceasefire and a 15-point proposal to Iran, alleviated recent war-driven market pressures.
Prices traded at approximately $58 per megawatt-hour on Wednesday, March 25, 2026, at 0830GMT, a significant drop from the historic high of $78 last week. The decline followed reports of new negotiations aimed at stabilizing the Middle East and preventing further supply disruptions.
The New York Times reported that Washington had sent Iran a 15-point proposal to resolve the conflict, while US President Donald Trump stated Iran had sent a "gift" related to oil and natural gas, agreeing never to possess nuclear weapons. Despite this recent pullback, prices had climbed more than 60% since the Iran war began on Feb.
28, and they remain well above levels seen before the recent escalation in regional tensions, underscoring continued volatility in European energy markets.
European Gas Prices Fall on Middle East Diplomacy(current)
