EU Gas Hits Near 4-year High

EU Gas increased to 84.52 EUR/MWh, the highest since December 2022. Over the past 4 weeks, Natural Gas EU gained 2.19%, and in the last 12 months, it increased 168.06%.

EU Gas increased to 83.48 EUR/MWh, the highest since September 2026. Over the past 4 weeks, Natural Gas EU gained 0.94%, and in the last 12 months, it increased 164.78%.

European natural gas prices held above €84/MWh, their highest level since December 2022, 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 agreed to an energy ceasefire effective immediately, easing some concerns across the energy market.