European natural gas prices slip after Israel, Lebanon agree to fragile ceasefire in General Energy News 05/06/2026 European natural gas prices sank on Thursday, mirroring a retreat in crude costs, as investors assessed a string of developments in the Middle East. By 08:50 ET (12:50 GMT), the benchmark Dutch front-month natural gas contract at the TTF hub had fallen by 1% to 48.375 euros per megawatt hour. British natural gas futures also declined by 1.0% to 116.78 pence per therm. Israel and Lebanon have agreed to renew their shaky ceasefire, bolstering hopes for an eventual peace deal between the U.S. and Iran. An agreement between Washington and Tehran has been contingent upon a cessation to fighting in Lebanon, where U.S.-aligned Israeli forces have been battling Iran-backed Hezbollah militants. Following a fourth round of U.S.-mediated discussions, both Israel and Lebanon said the truce would be “contingent on a complete cessation of Hezbollah fire and the evacuation of all Hezbollah operatives” from areas south of the Litani River in southern Lebanon. “These steps will enable progress towards a comprehensive peace and security agreement,” a joint statement said. Hezbollah, notably, did not take part in the negotiations. On Wednesday, U.S. President Donald Trump suggested that progress could be made in talks with Iran as soon as this weekend, while Iran’s foreign minister said contact with Washington has not been cut off. Earlier this week, media reports suggested that Tehran had halted sending messages to the U.S. through mediators. Trump has told aides that he will not resume attacks on Iran unless U.S. forces are killed, the Wall Street Journal reported. The White House is also possibly facing escalating demands at home to end the war. The House of Representatives, despite being controlled by Trump’s Republican party, voted in favor of a resolution blocking the president from continuing the conflict. The measure still needs Senate approval, as well as the ba