Statements by US President Donald Trump that peace negotiations with Iran are in the final stages are raising hopes of resumed gas deliveries to Europe from countries around the Persian Gulf via the essentially closed Strait of Hormuz.
Gas stocks in EU countries are at 41 percent, an unusually low level for the season. Experts warn that – with a global supply shortage resulting from the Iran war – it may be difficult to replenish gas stocks in time for the heating season to begin this autumn.
The price of North Sea oil (Brent) is also falling, down 3.2 percent to $94.65 per barrel.
