Business
EU gas prices cross 100 euros for first time since 2022 on supply fears
October 29, 2026 at 07:59 AM
European benchmark gas prices have risen above 100 euros per megawatt-hour for the first time since December 2022 amid disrupted Middle East LNG shipments and low storage.
- Dutch TTF futures climbed about 4% to 100.37 euros per MWh on Wednesday, the highest level since December 2022.
- EU gas storage stood at roughly 75% of capacity on October 21, below the usual 90% target for early November.
- EU Energy Commissioner Dan Jørgensen warned the bloc faces a new energy crisis and said the coming winter will be hard for citizens and the economy.
- EU energy ministers were due to meet Thursday to discuss challenges facing energy markets as prices pressure households and industry.