European natural gas benchmarks retreated on Monday as traders priced in a rapidly approaching resolution to the US-Iran standoff.
The decline follows reports that Washington and Tehran have finalized a peace accord, with the formal signing ceremony scheduled for Friday.
The development signals a sharp de-escalation of geopolitical tensions that had previously underpinned a risk premium in energy markets.
The repricing reflects a swift unwinding of the supply-disruption fears that kept European gas prices elevated over recent weeks.
With the prospect of sanctions relief and restored diplomatic channels, market participants are adjusting their exposure to Middle East-related energy risks.
The move underscores how sensitive regional commodity flows remain to high-level diplomatic breakthroughs.