European Gas Prices Hover Near 4-Week High

2026-10-12 01:30 By Judith Sib-at 1 min. read

European natural gas prices fell below €81/MWh on Monday, having risen to a four-week high earlier as increased tanker attacks in the Strait of Hormuz and escalating regional tensions heightened concerns over the security of LNG supplies.

The strait handles around 20% of global LNG trade before the war.

Despite a steady rise in European gas inventories in recent weeks, storage facilities are around 73% full, still below year-ago levels.

However, this recovery could be threatened by forecasts of cooler autumn temperatures, which may lead to an earlier start to the heating season and increase gas consumption.

Last week, European gas network operators said the system was flexible enough to meet winter demand but warned that limited supplies could push storage below 30% by winter’s end, increasing vulnerability to late-season cold snaps.

Meanwhile, President Trump said Russia and Ukraine had agreed to an energy ceasefire effective immediately, easing some concerns across the energy market.



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European Gas Prices Hover Near 4-Week High
European natural gas prices fell below €81/MWh on Monday, having risen to a four-week high earlier as increased tanker attacks in the Strait of Hormuz and escalating regional tensions heightened concerns over the security of LNG supplies. The strait handles around 20% of global LNG trade before the war. Despite a steady rise in European gas inventories in recent weeks, storage facilities are around 73% full, still below year-ago levels. However, this recovery could be threatened by forecasts of cooler autumn temperatures, which may lead to an earlier start to the heating season and increase gas consumption. Last week, European gas network operators said the system was flexible enough to meet winter demand but warned that limited supplies could push storage below 30% by winter’s end, increasing vulnerability to late-season cold snaps. Meanwhile, President Trump said Russia and Ukraine had agreed to an energy ceasefire effective immediately, easing some concerns across the energy market.
2026-10-12
European Gas Prices Retreat After Trump's Comments
European natural gas prices fell below €78/MWh, retreating from an over three-week high after President Trump said the US would not resume military strikes on Iran before November’s midterm elections, easing fears of an escalation in the conflict. However, supply risks persist as Iran stepped up tanker attacks in the Strait of Hormuz, a chokepoint for 20% of global LNG trade, raising concerns over the safety of transits. Meanwhile, cooler weather forecasts for Northwestern Europe could lift heating demand and support gas consumption. While Europe's gas inventories have risen steadily in recent weeks, facilities are around 73% full, remaining below year-ago levels. The region’s gas network operators said the system is flexible enough to meet winter demand but warned that limited LNG supplies could push storage below 30% by winter’s end, increasing vulnerability to late-season cold snaps. Despite Friday’s pullback, prices are up about 4% this week, marking a second weekly gain.
2026-10-09
European Gas Prices Climb on Hormuz Shipping Risks
European natural gas prices rose toward €80/MWh, the highest level in more than three weeks, as continued tanker attacks in the Strait of Hormuz fueled supply concerns. Iran has sharply increased attacks on commercial and energy vessels transiting the waterway, highlighting persistent shipping risks and threatening to disrupt the broader recovery in fuel deliveries. Reports that Washington has asked the Pentagon to prepare options for potential strikes on Iran before the November midterm elections also heightened fears of an escalation in the conflict. Further supporting prices, forecasts point to cooler weather across Northwestern Europe, which could boost heating demand as the region heads into winter. This weather-driven support comes amid steady additions to European storage reserves, with facilities now around 73% full. Still, storage levels remain below last year's, leaving the region vulnerable to prolonged supply disruptions and sudden demand spikes.
2026-10-08