European Gas Prices Surge Following Trump’s Iran Ceasefire Comments

Gas prices on European exchanges experienced a significant increase on Wednesday following statements by US President Donald Trump declaring the collapse of the ceasefire with Iran.

According to data from the London ICE futures exchange, the August futures contracts based on the TTF index, headquartered in the Netherlands, opened trading at $571, marking a 3.7% rise.

By 9:09 Moscow time, the index recorded $566.6, up 2.9%, before accelerating to reach $580.5 by 11:22 Moscow time. This represented a 5.4% increase compared to the previous closing price of $550.6 per thousand cubic meters.

This sharp rise followed President Trump’s declaration that the ceasefire with Iran "is no longer valid" from his perspective, adding that "negotiations with Iran have lost their meaning." These remarks triggered market concerns over escalating geopolitical tensions in the Middle East, a critical corridor for global energy supplies.