Natural gas prices in Europe fell by 18.5% at the start of trading on Wednesday, reaching $518.6 per 1,000 cubic meters.

According to data from the London ICE stock exchange, this decline was due to news of a temporary ceasefire between the US and Iran, RIA Novosti reports.

The May futures of the Dutch TTF hub—Europe's largest natural gas hub—opened at $518.6 (-18.5%) at 10:00 Armenia time. But as of 10:15, this indicator had slightly increased, reaching $529.3 (-16.8%).

The dynamics of these prices is calculated relative to the closing price of the previous working day, which was $597.6 per 1,000 cubic meters.