Business · Energy & Commodities · 3 hrs ago
European gas prices rise above €97 per megawatt-hour
European gas prices rose above €97 per megawatt-hour on Monday, their highest level since 2022.
Europe is heading into winter with low gas stocks, and colder weather is expected to increase demand for heating.
Tight global supplies could intensify competition for gas shipments, including between European and Asian buyers.
The rise comes amid concerns about supply disruptions in the Gulf and the course of the Iran conflict.
Before the Iran war, prices were about €32 per megawatt-hour, according to NU.nl.
The balance between supply and demand remains fragile as winter approaches, and no further steps or decisions are specified.
European gas prices rose above €97 per megawatt-hour on Monday morning, reaching their highest level since late 2022.
Benchmark futures rose by as much as 3.5% in Monday morning trading, according to Al Eqtisadiah.
The rise comes amid concerns about a fragile balance between gas supply and demand ahead of winter.
Traders expect heating demand to increase as temperatures fall, while tight global supplies could intensify competition for shipments.
The articles also cite supply disruptions in the Gulf and uncertainty over the Middle East conflict.
- Who
- European gas traders and buyers are affected by the price rise.
- What
- European gas prices rose above €97 per megawatt-hour, their highest level since late 2022.
- When
- Monday morning, October 26, 2026.
- Where
- Europe.
- Why
- Concerns about winter supply and demand, falling temperatures, tight global supplies and Middle East conflict are contributing to the rise.
This story does not have two clearly opposing sides.
Benchmark European gas futures continued to rise.
The European gas price rose above €97 per megawatt-hour.
- Price
- Above €97 per megawatt-hour
- Recent high
- Highest level since late 2022, according to NU.nl
- Monday trading
- Futures rose by as much as 3.5%, according to Al Eqtisadiah
- Earlier price
- Around €32 before the Iran war, according to NU.nl