25.06.202602:34:58UTC+00European Gas Prices Near 2-Month Lows

European natural gas prices were steady at around €40.8 per MWh, holding near a two‑month low, as shipping activity through the Strait of Hormuz showed signs of returning to normal following progress in US–Iran peace talks. Three previously stranded crude oil supertankers successfully passed through the waterway earlier this week, and several empty Qatari LNG carriers have entered the Gulf in recent weeks to reload, indicating a potential rebound in gas shipments.

In addition, Qatar’s prime minister stated that LNG production is expected to return to normal within a few weeks, with the exception of output from the damaged facility. The prospect of restored LNG flows from the Gulf has eased concerns over a possible supply crunch and may help Europe rebuild gas inventories ahead of next winter. These developments offset upward pressure on prices from strong power‑sector demand, driven by hot weather and low wind speeds across Europe.