European natural gas prices tumbled as much as 17% after US President Donald Trump suggested the Iran conflict could end soon, marking the biggest intraday decline since 2023. Benchmark futures fell sharply as Trump claimed military operations were ahead of schedule and could be resolved "very soon." His comments provided temporary relief to energy markets already rattled by the conflict.

Trump's words alone won't stabilize prices, according to ING Groep NV strategists Warren Patterson and Ewa Manthey, who noted that flows through the Strait of Hormuz must resume to sustain lower prices. The US president also proposed having the US Navy escort tankers through the crucial waterway. French President Emmanuel Macron separately suggested a joint maritime mission to protect shipping once initial fighting subsides.

The conflict has already disrupted about a fifth of global liquefied natural gas flows through the strait, primarily from Qatar's massive export facilities. While Iran claims the route remains open, tanker traffic has largely halted since the war began. With European gas reserves unusually low ahead of winter, the region faces critical supply challenges as several LNG vessels have already diverted toward Asia.