European natural gas prices recorded their largest decline in over a month after the United States halted its weekend airstrikes against Iran.
The Dutch TTF natural gas futures contract experienced a sharp drop of 8.3% at one point, reaching €58.280 per megawatt-hour ($66.39). This marked the steepest intraday decline since June 15th. At 7:05 AM Singapore time, the contract was trading at €58.855 per megawatt-hour.
The significant price movement underscores the market's sensitivity to geopolitical tensions in the Middle East, which can directly impact supply routes and energy security for Europe.
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