European gas and oil prices are significantly reduced today after telephone communication between Donald Trump and Vladimir Putin with the aim of “immediate” launching negotiations for Ukraine.

Around 12:05 (Greek time), the price of the Dutch TTF time contract, considered the European gas reference price, decreased by nearly 4.78% to 53 euros a megawatt hour (MWh).

Gas price decreased after “Donald Trump’s telephone communications with the Russian president and then with the Ukrainian president, who could be considered a step towards a peace agreement,” Analysts of Energi Danmark explain.

Russia, second in the world producer of gas, and the United States will begin ‘Immediately’ to negotiate with perspective to put End to conflictthe US president announced through his network, Truth Social, referring to a “very productive” conversation with his Russian counterpart.

Vladimir Putin told Donald Trump that he wants to find a “long -term solution” to Ukrainian conflict through ‘Peaceful conversations’, He announced the Kremlin, referring to a telephone conversation almost a half hour.

“The return of significant Russian gas volumes to Europe in the event of a peace agreement in Ukraine” It is considered an important factor in reducing prices, says Lee Hardman, an analyst at MUFG.

The prospect of a meeting between Donald Trump and Vladimir Putin also causes oil prices.

“Any agreement must, in Russia’s view, be accompanied by loosening of sanctions” The US who currently targets Russian oil exports, says John Evans, an analyst on PVM.

Northern Sea Brent’s barrel price for delivery in April decreased by 1.17% to $ 74.30.

The price of his US match, the West Texas Intermedia bar barrel, for delivery in March, decreased by 1.28% to $ 70.46.