Dutch and British natural gas wholesale prices fell more than 10% on Tuesday, after the news that Iran and Israel agreed to cease fire, removing the risk premium that the market had calculated for potential disorders of oil and gas supply.
The TTF Dutch Reference Contract fell 10.08% to 36.43 euros per megawatt hour.
Natural gas is negotiating at its lowest level since June 12, the day before the first Israeli blows in Iran, Reuters notes.
Tuesday’s fall is solely due to the news that Israel has agreed with US President Donald Trump’s proposal to cease with Iran, a trader said.
“In the opening today we saw an incredible sigh of relief with more than 10% decreased by price levels,” wrote Auxilione Counseling in its daily market report.
However, any violation of the truce from any place could probably immediately restore worries to the market, they warned.
Israel said Iran has already violated the truce and would answer.
Source: Skai
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