The US suspended military attacks on Iran last weekend, and European gas prices recorded their biggest one-day drop in more than a month. The biggest intraday decline in TTF gas futures in the European benchmark Netherlands reached 8.3%, falling to 58.28 euros per megawatt hour, the biggest intraday decline since June 15. Previously, the US launched attacks on Iran for 13 consecutive days. Since the evening of last Friday, the US side suspended military operations, and the market had many speculations about President Trump's subsequent movements. The Strait of Hormuz is responsible for about one-fifth of the world's liquefied natural gas supply. Affected by the Middle East conflict and regional attacks, LNG transportation along this channel basically came to a standstill this month.

The US suspended military attacks on Iran last weekend, and European gas prices recorded their biggest one-day drop in more than a month. The biggest intraday decline in TTF gas futures in the European benchmark Netherlands reached 8.3%, falling to 58.28 euros per megawatt hour, the biggest intraday decline since June 15. Previously, the US launched attacks on Iran for 13 consecutive days. Since the evening of last Friday, the US side suspended military operations, and the market had many speculations about President Trump's subsequent movements. The Strait of Hormuz is responsible for about one-fifth of the world's liquefied natural gas supply. Affected by the Middle East conflict and regional attacks, LNG transportation along this channel basically came to a standstill this month.