2 publishers · first seen Wed, 28 Oct 2026 16:16 UTC · updated Wed, 28 Oct 2026 22:02 UTC
European natural gas prices reached a significant milestone on Wednesday, hitting €100 per megawatt-hour for the first time since 2022, according to the Dutch TTF futures contract. This surge is driven by escalating tensions in the Middle East and the need to replenish gas reserves ahead of the winter season. The price increase reflects concerns over potential further strikes on Iran and limited exports of liquefied natural gas from the Gulf region. Although the current prices are far below the peaks seen during the 2022 energy crisis, they are expected to impact energy-intensive industries and consumer bills. European countries are also preparing for lower wind and solar generation, which could further increase the demand for gas.
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