Al-Attiyah Energy Foundation: Gas prices in Asia fall to their lowest levels since the start of the crisis.

Liquefied natural gas (LNG) prices in the Asian spot market fell to their lowest levels since the outbreak of the conflict, following the announcement of a two-week truce between the United States and Iran, which temporarily eased market tensions.

The average LNG price for May delivery to Northeast Asia dropped to around $17 per million British thermal units (MMBtu), down from $19 the previous week. Despite the decline, uncertainty continues to dominate the market due to ongoing supply risks and disruptions to shipping through the Strait of Hormuz.

Shipping traffic through the strait remains below 10% of normal levels, with hundreds of vessels—including LNG carriers—still backlogged in the Gulf.

In Europe, the Dutch TTF gas price stabilized at $15.09 per MMBtu, marking a weekly decline of 10.5%. However, demand from Turkey and Argentina provided some support to prices, according to a report by the Al-Attiyah Energy Foundation.

Meanwhile, oil futures also declined sharply, recording their largest weekly loss since 2022, ahead of expected talks between the United States and Iran aimed at reaching a permanent ceasefire.