The European front-month gas contract on the Dutch TTF hub dropped to EUR 42.50/MWh, its lowest since March, before recovering to EUR 43.46/MWh. This decline follows a ceasefire agreement between the US, Israel, and Iran, which may allow for the reopening of the Strait of Hormuz, a key route for LNG and oil exports. Analysts suggest that while the ceasefire may stabilize the market, the recovery of Qatari output may take time.
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