The United States hints at measures to ease energy prices; European natural gas futures decline

⑴ European natural gas futures fell below 60 euros per megawatt-hour on Friday, retreating from the three-year high previously reached, as the United States hinted at possible measures to curb rising energy prices. ⑵ Treasury Secretary Besent stated that the U.S. may soon lift sanctions on Iranian oil stranded on tankers and suggested that additional crude reserves might be released, providing temporary relief to the energy market. Trump ruled out the possibility of deploying ground troops, and Israel also pledged to temporarily halt further strikes on a key Iranian gas field. ⑶ These developments occurred after Iran launched a retaliatory attack on Qatar's Ras Laffan Industrial City. Ras Laffan Industrial City is home to the world's largest liquefied natural gas export facility, and previously, Israel had attacked Iran's South Pars gas field. ⑷ Meanwhile, major European countries and Japan have expressed willingness to participate in efforts to ensure the safe passage of ships through the Strait of Hormuz, which remains effectively closed. ⑸ Nevertheless, European natural gas prices have nearly doubled compared to pre-conflict levels, with cumulative gains this month exceeding 90%.