Gas prices in Europe dropped significantly amid news of a ceasefire between the US and Iran

The price of gas on the exchange in Europe fell by 18% at the opening of trading on Wednesday on the news of a two-week mutual ceasefire between the US and Iran.

This is evidenced by data from the London-based ICE exchange.

The price of the May futures contract at the TTF hub in the Netherlands dropped to around $518 per 1,000 cubic meters, or 42.905 euros per MWh (based on the current euro-to-dollar exchange rate; prices on ICE are quoted in euros per MWh).

It should be noted that on April 8, 2026, US President Donald Trump announced just hours before his ultimatum to Tehran expired that Washington had agreed to a two-week ceasefire.