Dutch TTF front-month natural gas futures fell about 15.5 percent to 87.87 euros per megawatt-hour by 15:30 local time, down from Friday’s close of 103.94 euros. The drop was driven by hopes for a diplomatic resolution of tensions between the United States and Iran.
Qatar’s emir called US President Donald Trump on Friday to push for de-escalation. Axios, citing sources, reported that Qatar has proposed a draft deal. It calls for mutual confidence-building steps within two days and a restart of nuclear talks.
Supply concerns remain
Key disagreements between the two sides remain unresolved. The Middle East supplied about 20 percent of global LNG before the conflict.
Disruptions to shipments from the region continue to weigh on European supply. Gas storage in the European Union stood at 73.75 percent full on the previous day.
Winter demand looms
Democrats’ gains in the US midterm elections were also cited as a factor in the market’s mood.
Natural gas was quoted at $2.840 in our own market data as of 7 November 2026 04:17 GMT.
Related: Brent slumps 6.6% to $109.92 on US-Iran talk hopes · Oil slips $1 a barrel as US-Iran talk hopes ease supply fears
Data: FRED — St. Louis Fed
