London, SANA-Gas prices in Europe fell by 12% after US President Donald Trump announced a ceasefire between Israel and Iran.
According to Bloomberg News, gas futures fell as much as 12 percent in the biggest daily loss in two years, as concerns about supply disruption from the energy-rich Middle East eased.
Gas prices have risen since the start of the Israeli attacks on Iran on June 13, which led to Asian contracts rising to their highest level in four months, and European contracts to their highest levels since early April.
The Strait of Hormuz handles about 20% of global LNG trade. While the majority of shipments through the strait are destined for Asian markets, approximately 15 percent are directed to Europe.
khadega/Mazen Eyon
