European Gas Hits €100/MWh for First Time Since 2022
Middle East shipping disruptions and low storage levels are tightening supply as Europe enters winter, with analysts warning of further price spikes.
- On Wednesday, October 28, 2026, European benchmark natural gas prices at the Dutch Title Transfer Facility briefly touched €100 per megawatt-hour, marking the highest level since December 2022.
- Middle East volatility and shipping disruptions in the Strait of Hormuz prompted the surge as the European Union entered the heating season with storage sites only 74% full, well below the 86% five-year average.
- "Demand reduction remains the biggest lever within Europe's control," Ana Maria Jaller-Makarewicz, lead energy analyst for Europe at the Institute for Energy Economics and Financial Analysis , told Euronews.
- EU governments have spent €17.9 billion this year to cushion energy costs, yet household bills are projected to surge as energy-intensive industries face potential output reductions.
- Analysts from Wood Mackenzie warn storage could drop to 17% by March, while the CEO of Norwegian energy producer Equinor cautioned that cold weather could trigger further price spikes later this winter.
264 Articles
264 Articles
EU natural gas prices top €100 for first time since 2022
As winter approaches, the price of European natural gas topped €100 / megawatt hour, its highest level since 2022. The EU says it's not worried about supplies, although its storage facilities are only 72% full, but warns households of a 'difficult' season to come. Also in the show - the UK government tries to cushion the impact of high energy bills, and 200 passengers are stranded in Cambodia after their multi-year cruise was cancelled because o…
The price of the megawatt hour reached, on Wednesday 28 October, the EUR 100 in the European wholesale markets, a first since the energy crisis of 2022.
The situation in the Middle East, in the face of fears of American strikes on Iran after the mid-term elections in the United States. - Fear of strikes in the Middle East, a level of stocks that worries... The price of European gas is still blazing (Economy).
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