-- European natural gas futures fell slightly in early trade on Thursday after Wednesday's initial 9% plunge following a news report suggesting the US and Iran might be nearing agreement on on a path to end more than two months of conflict.
Dutch TTF futures slipped 0.1% to 43.90 euros ($51.67), while UK NBP contracts fell 0.04% to 107.53 British pence ($1.46).
While Wednesday's plunge took place in the absence of any acknowledgement of such a framework by Iran, the country said later on Wednesday that it was reviewing a US proposal aimed at ending the conflict that has starved energy markets of about 20% of the world's total oil and gas supplies.
ANZ Senior Commodities analyst Daniel Hynes noted that some European traders continue to hedge against a spike in prices next winter, with the task of refilling storage reserves having barely begun and looking a daunting task with Asian importers already struggling to import enough to meet immediate needs.
While the Axios report on Wednesday mentioned some White House optimism over prospects for agreement on lasting peace, US President Donald Trump's social media post warning of strikes in the absence of agreement cast at least some doubt over how much common ground there is between the sides.
EU gas storage levels stood at 34.07% of capacity on Wednesday, according to Gas Infrastructure Europe, well below 41.4% a year earlier.