Natural Gas Prices Drop in EU Ahead of Trump-Putin Peace Talks

European natural gas prices have dropped, as forecasts for rising temperatures and the upcoming talks between U.S. President Donald Trump and Russian President Vladimir Putin seem to strengthen prospects for supply balance in the EU. According to Bloomberg, futures contracts fell by up to 3.1% today (March 17, 2025), briefly dipping below the range of €41-42 per megawatt-hour where they traded most of last week. Efforts to end the war in Ukraine have raised expectations that pipeline flows from Russia could return to the continent, which is in dire need of gas supplies after depleting much of its reserves this winter. Trump stated he will speak with Putin tomorrow (March 18, 2025), and the Russian leader has hinted at restarting certain shipments—though in reality, such a move may not be straightforward. Meanwhile, a cold snap affecting the EU is expected to ease mid-week, relieving storage levels now only 35% full. Weaker Asian demand for the fuel also helps Europe access liquefied natural gas cargoes.