EUROPE GAS-EU gas prices range-bound after Israel, Iran halt attacks

Prices steady as Iran-Israel tensions ease, negotiations ongoing

Norwegian gas output recovers, French LNG sendout dips due to terminal maintenance

EU gas storage at 42.48% full, below last year's level

- Benchmark Dutch and British wholesale gas prices traded in a narrow range on Tuesday morning after Iran and Israel said they had halted attacks on each other following an appeal from U.S. President Donald Trump, though both sides warned they could resume hostilities.

The benchmark Dutch front-month contract at the TTF hub TFMBMc1 rose by around €0.27 to €50.1 per megawatt hour by 0813 GMT, ICE data showed.

The British front-month contract NGLNMc1 was up 0.35 pence at 120.88 pence per therm.

"We take a sideways view today as the conflict has seemingly calmed down a bit for now, and reports are stating negotiations are ongoing between the US and Iran," said LSEG analyst Saku Jussila.

U.S. President Trump told reporters he could have "an idea" for an Iran deal within a few days, without elaborating. The Republican president, struggling with record low approval ratings ahead of November midterm elections, has often hinted at an imminent deal with Tehran, but none has yet eventuated.

Iranian Foreign Ministry spokesperson Esmaeil Baghaei said Tehran was exchanging messages with Washington in an atmosphere of "extreme suspicion."

On the supply side, Norwegian production output has recovered today by another 10 million cubic meters per day as maintenance impact eases up. Flows towards the Continent are up 5 mcm/d.

Meanwhile, LNG sendout is expected slightly lower on Tuesday as France's Fos Cavaou terminal is going through one-day maintenance.

EU gas storage sites were last 42.48% full, compared with 50.97% at the same time last year, Gas Infrastructure Europe data showed.

In the European carbon market, the benchmark contract CFI2Zc1 was down €0.64 at €76.30 a metric ton.