Amsterdam, March 10 (QNA) - European natural gas prices fell by around 15% on Tuesday, retreating from the previous session's sharp rally as oil prices also declined following remarks by US President Donald Trump regarding the ongoing war with Iran.

The benchmark Dutch TTF natural gas futures contract, Europe's key gas pricing indicator, dropped 14.61% to 48.21 euro per megawatt-hour.

The decline came after prices had surged by nearly 30% in the previous session amid heightened geopolitical tensions in the Middle East, which fueled concerns over possible disruptions to global energy supply chains.

Market sentiment shifted after the US president said on Monday that the war with Iran could be over "pretty quickly," easing fears of a prolonged regional conflict that could disrupt energy flows and key shipping routes vital to global markets.

European gas prices had surged earlier as investors reacted to escalating military tensions in the region, which intensified volatility across global energy markets. (QNA)