
European natural gas futures swung between gains and losses after falling for two sessions, as supply-balance concerns offset optimism about a possible resolution to the US-Iran conflict. President Donald Trump said further strikes on Iran would not be necessary, signaling willingness to wind down the conflict.
Less risk of conflict-related disruption could ease pressure on gas prices, while Europe’s fragile supply balance may limit the downside and affect energy costs for fertilizer production.
After 15 past bearish geopolitics events, Natural Gas moved a median -1.1% over 5 sessions (40% higher; middle half -9.2% to +2.4%), and +4.7% 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.