EU to hold emergency meeting on energy security threats

The European Union has decided to hold an emergency meeting of its gas coordination group to analyze the potential impact of the Middle East conflict on energy security. The meeting will take place on March 26.

As a reminder, gas prices on the European market rose to almost $730 per thousand cubic meters, up three percent over the session. Gas Infrastructure Europe previously reported that reserves in European underground gas storage facilities had fallen to 28.5%, while in the Netherlands, the level had dropped to 7%.

Oil prices plummeted after Trump's remarks about Iran.

Meanwhile, Bloomberg reports that Brent crude futures fell 14% after Trump's remarks about temporarily halting strikes on Iran's energy infrastructure. Tehran has not and is not negotiating with the United States, Tasnim News Agency reported, citing a source.

Trump announced productive negotiations aimed at lowering energy prices, the Iranian Foreign Ministry stated. The ministry's position was cited by Mehr News Agency. A barrel of oil is currently trading at $99. Before the Iranian conflict, oil was trading at $73 per barrel. The first record of $108 per barrel was set on March 8. The second record, $114 per barrel, was set on March 19.