European natural gas prices rose above €69/MWh, the highest since January 2023, as renewed fighting in the Middle East raised concerns over further delays to LNG exports from the Persian Gulf. Iran said it launched an attack on US air bases in Jordan hours after US forces struck two Iranian launchers on an island in the Strait of Hormuz, escalating tensions after a week of mediation efforts failed to break the stalemate between the two nations. The disruptions have already constrained LNG exports from major Gulf producers such as Qatar, tightening supplies to Europe during the critical gas-storage refill season. European storage facilities were 63% full in the final week of August, well below historical averages and among the lowest levels recorded for this time of year. Although the European Commission has recently indicated there is no immediate threat to gas supplies, traders are concerned that intensified competition with Asia for supplies could push prices even higher.
EU Gas rose to 70.13 EUR/MWh on August 31, 2026, up 4.71% from the previous day. Over the past month, EU Gas's price has risen 21.96%, and is up 118.75% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, EU Natural Gas reached an all time high of 345 in March of 2022. EU Natural Gas - data, forecasts, historical chart - was last updated on August 31 of 2026.
EU Gas rose to 70.13 EUR/MWh on August 31, 2026, up 4.71% from the previous day. Over the past month, EU Gas's price has risen 21.96%, and is up 118.75% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. EU Natural Gas is expected to trade at 71.53 EUR/MWh by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 88.57 in 12 months time.