European Gas Prices Fall 2% as Traders Wait on Trump’s Next Move in Iran

S. President Donald Trump lost Republican control of both chambers of Congress in the midterm elections on Tuesday. m. in Amsterdam on Wednesday, erasing earlier gains of about 1%, as the market remains anxious about Trump’s next moves on Iran. S. will launch new strikes on Iran, as feared in recent days, or attempt to pursue diplomacy.

82 euros $114 per MWh at the end of last week, when the European benchmark price topped the 100-euro mark for the first time since 2022, during the previous gas crisis when Russia cut off pipeline gas supply to most of its European customers after Putin invaded Ukraine.