Natural gas prices in Europe have fallen as the threat that Iran will block the movement of ships through the Strait of Hormuz has disappeared. A few days ago, Tehran announced its intention to block the route from the Persian Gulf.
This is reported by The Moscow Times, citing prices on the Dutch TTF hub.
Today, June 27, the fall in gas prices continued and reached EUR 23.93 per megawatt-hour (-3.2% since the beginning of the day). Last Friday, June 20, almost EUR 41 was asked for one megawatt-hour.
It is noted that the decrease in gas prices began on Tuesday, June 24, when it became known about the cessation of hostilities between Israel and Iran.
Initially, oil prices showed a decline, as blocking the Strait of Hormuz would close the way for tankers with "black gold" from Qatar and the United Arab Emirates.
Then gas prices began to fall, as the Persian Gulf countries have their share in the European gas market.
As the Ukrainian News agency earlier reported, on June 24 it became known that against the background of the cessation of hostilities between Israel and Iran, gas prices in Europe began to decline.
As a reminder, on June 22, members of the Iranian parliament approved a decision to block the Strait of Hormuz, through which the Persian Gulf countries export oil and gas.
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