# European Natural Gas Prices Stabilize After Sharp Drop

> European natural gas prices stabilized at €95/MWh after falling more than 8% in the previous session on hopes of a diplomatic breakthrough in the Middle East. US and Iranian signals of willingness to engage in peace talks, and Iran's offer to reopen the Strait of Hormuz under conditions, drove the move. EU storage stood at 74.56% as of November 2, well below historical averages, and cold forecasts for Northern and Central Europe could prompt early storage withdrawals.

- Date: 2026-11-03 · published 2026-11-03T06:07:33.813Z
- Category: geopolitics · region EU · magnitude medium
- Page: https://feedsoft.ai/events/77056-european-natural-gas-prices-stabilize-after-sharp-drop
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Europe's tight storage and expected heating demand keep a winter risk premium in TTF, so any renewed Hormuz disruption could quickly lift gas prices again. Gas-linked fertiliser and feed costs in Europe remain sensitive to these swings.

## Read by commodity

- WTI: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-03-09 | [European nitrogen market rallies on gas price hike, Iran conflicts \| S&P Global](https://feedsoft.ai/events/20464-european-nitrogen-market-rallies-on-gas-price-hike-iran-conflicts-s-and-p-global.md) | +8.5% | +25.0% |
| WTI | 2025-12-03 | [Vegetable oil prices rose slightly after falling in the previous week](https://feedsoft.ai/events/11261-vegetable-oil-prices-rose-slightly-after-falling-in-the-previous-week.md) | -0.7% | -2.5% |
| WTI | 2025-06-23 | [Update: oil prices fall back after short-lived surge in early trading - FreightWaves](https://feedsoft.ai/events/8645-update-oil-prices-fall-back-after-short-lived-surge-in-early-trading.md) | -12.2% | -9.7% |
| WTI | 2026-06-24 | [Diesel Prices Fall Below $5 a Gallon - TT](https://feedsoft.ai/events/19006-diesel-prices-fall-below-5-a-gallon-tt.md) | -5.3% | +15.5% |
| WTI | 2026-04-06 | [OPEC+ to hike crude output: Will it make a difference to oil prices? \| Euronews](https://feedsoft.ai/events/19611-opec-to-hike-crude-output-will-it-make-a-difference-to-oil-prices-euronews.md) | -13.2% | -7.5% |

## Sources

- tradingview.com: https://www.tradingview.com/news/te_news:597495:0-european-natural-gas-prices-stabilize-after-sharp-drop/

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