The ICIS TTF May ’26 gas contract price declined nearly 5% to $16.26/MMBtu on Wednesday, as the market digested new US-Iran war statements.
US president Donald Trump said Iran’s “new regime president” has asked the US for a ceasefire, although it is unclear who the new president is.
“We will consider [the alleged ceasefire] when Hormuz Strait is open, free, and clear,” Trump added in a social media post.
However, Iran’s foreign ministry said Trump’s claim that the country has asked for a ceasefire is “false and baseless”, according to the BBC, citing Iranian state TV.
Brent crude oil prices also fell in the afternoon, while global stock markets rose, amid growing market optimism that the war may be nearing an end.
Independent Commodity Intelligence Services
