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Dutch TTF front-month gas fell 3.7% to 88.19 euros per megawatt-hour after Democrats won control of both chambers of the US Congress. Traders are now watching whether the Trump administration resumes strikes on Iran or continues diplomacy, after prices had recently climbed above 100 euros.
Renewed strikes on Iran could disrupt Gulf LNG exports through Hormuz, pushing European gas back above 100 euros and tightening competition with Asian buyers. Diplomacy would keep the market easing, so geopolitical risk remains the main price driver.
marketwatch.comNov 5, 2026After 162 past geopolitics events, Natural Gas moved a median +2.2% over 5 sessions (61% higher; middle half -2.0% to +7.5%), and +4.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
