FX.co ★ TTF Prices Head for Sharp Weekly Gain

European natural gas futures climbed above €49 per megawatt-hour and were headed for a weekly gain of nearly 7%, amid a deadlock in US–Iran negotiations. Talks have shown little progress, and a renewed surge in fighting has increased uncertainty. Iran-backed Hezbollah’s rejection of a US-brokered ceasefire proposal has further complicated efforts to ease regional tensions. With no agreement in sight, markets are increasingly concerned that disruptions to energy shipments from the Persian Gulf could continue. A prolonged disruption would likely intensify competition for LNG cargoes, amplifying worries in Europe as the region races to secure supplies this summer and refill storage sites ahead of winter.