# European natural gas prices plunge more than 10 pct amid hopes for U.S.-Iran talks

> Dutch TTF front-month gas fell more than 10% on Monday to about 93 euros per MWh, its steepest daily drop since April, after reports that Iran's leader authorized talks with the US. EU storage stood at 74.62% full on November 1, while Germany was below its 70% target.

- Date: 2026-11-02 · published 2026-11-03T00:08:19.860Z
- Category: geopolitics · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/76398-european-natural-gas-prices-plunge-more-than-10-pct-amid-hopes-for-u-s-iran
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md), [Urea](https://feedsoft.ai/c/UREA.md)

## Why it matters

Lower gas prices ease input costs for European nitrogen fertilizer producers and reduce the risk premium on energy. Tight storage keeps the winter outlook volatile, which supports fertilizer prices.

## Read by commodity

- UREA: bearish ▼
- NATGAS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2020-01-01 | [European Gas Prices Fall as Ukraine, Russia Deal Averts Crisis](https://feedsoft.ai/events/55767-european-gas-prices-fall-as-ukraine-russia-deal-averts-crisis.md) | -1.1% | -11.9% |
| NATGAS | 2026-05-06 | [Brent Crude Price: Oil and gas plunge after report US and Iran near deal to end war](https://feedsoft.ai/events/9582-brent-crude-price-oil-and-gas-plunge-after-report-us-and-iran-near-deal-to-end.md) | +2.4% | +10.0% |
| NATGAS | 2024-10-28 | [Prompt Month Natural Gas Futures Sink 10% as Geopolitical Risks ‘Evaporate’ — MidDay Market Snapshot](https://feedsoft.ai/events/11712-prompt-month-natural-gas-futures-sink-10-as-geopolitical-risks-evaporate-midday.md) | -12.5% | +23.5% |
| NATGAS | 2022-05-10 | [Gas prices drop as Russia says sanctions will not affect gas payments from Europe](https://feedsoft.ai/events/12160-gas-prices-drop-as-russia-says-sanctions-will-not-affect-gas-payments-from.md) | +6.5% | +23.4% |
| NATGAS | 2026-05-06 | [Oil and gas prices fall sharply, driven by hopes of strait of Hormuz reopening – as it happened \| Business \| The Guardian](https://feedsoft.ai/events/9584-oil-and-gas-prices-fall-sharply-driven-by-hopes-of-strait-of-hormuz-reopening.md) | +2.4% | +10.0% |
| UREA | 2026-04-17 | [Fertilizer Prices Fall After Iran Says Strait Is Open - TT](https://feedsoft.ai/events/20034-fertilizer-prices-fall-after-iran-says-strait-is-open-tt.md) | -2.7% | -17.7% |
| UREA | 2024-05-03 | [Russia gains by turning natural gas into urea](https://feedsoft.ai/events/9422-russia-gains-by-turning-natural-gas-into-urea.md) | +1.0% | +1.5% |
| UREA | 2026-06-24 | [NOLA urea prices drop 55% from April peak as Hormuz ceasefire and renewed Chinese exports reshape the market — Fertilizer Daily](https://feedsoft.ai/events/19117-nola-urea-prices-drop-55-from-april-peak-as-hormuz-ceasefire-and-renewed.md) | -1.9% | -0.6% |

## Sources

- thestar.com.my: https://www.thestar.com.my/news/world/2026/11/03/european-natural-gas-prices-plunge-more-than-10-pct-amid-hopes-for-us-iran-talks

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.