Natural gas prices drop nearly 10% from two-year highs, electricity contracts ease
Natural gas prices fell by nearly 10%, retreating from two-year highs, with the decline also reflected in next-year electricity supply contracts. The move suggests a supply-side or demand-side shift, though the specific driver is not stated. This matters for inflation and energy-sensitive sectors across Europe.
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US Rejects Iran Diplomacy, Strait of Hormuz Blockade Continues
US President Trump has rejected multiple Iranian diplomatic overtures, including proposals to reopen the Strait of Hormuz and a 7-day ceasefire, opting instead for continued sanctions and maintaining military options. This rejection has led to a significant surge in global oil prices and increased geopolitical risk, with Iran stating its readiness for both war and diplomacy. The immediate future of US-Iran relations remains highly uncertain, with a clear path to de-escalation currently absent.