European Natural Gas Prices Hit €100

2026-10-28 15:08 By Agna Gabriel 1 min. read

European natural gas prices climbed toward €100 per megawatt-hour, their highest level since December 2022, as the heating season approaches with unusually low inventories and growing geopolitical risks.

EU storage facilities were less than 75% full on October 28, compared with a five-year average of around 86%.

Inventories stood at approximately 849 TWh, roughly 100 TWh below last year’s level, increasing the need for additional imports to rebuild reserves.

Storage levels varied significantly, with Germany at 61.65% and the Netherlands at 65.53%, while France and Italy were better positioned at 87.34% and 90.77%, respectively.

Meanwhile, forecasts for colder weather across Europe and parts of Asia could lift heating demand and intensify competition for LNG cargoes.

Supply concerns intensified after reports that the US told several Persian Gulf countries to be prepared for a short, intense military campaign after the midterm elections.



News Stream
European Gas Prices Hover Near Peak Levels
European natural gas prices eased to €97 per megawatt-hour on Thursday after reaching €100 in the previous session, the highest level since December 2022. The recent rally has been driven by rising heating demand, low gas reserves in Europe, and concerns about a renewed escalation in the Middle East conflict. Prices have more than tripled since the outbreak of the war, as disruptions to shipments through the Strait of Hormuz halted LNG deliveries from several sources, primarily Qatar. This has left the region scrambling for alternatives and hampered efforts to refill storage over the summer. European gas storage facilities were about 75% full as of October 28, significantly below historical levels. Meanwhile, forecasts of colder weather across northwestern Europe in the coming days could boost heating demand, while potential cold snaps in parts of Asia may further intensify competition for available cargoes.
2026-10-29
European Natural Gas Prices Hit €100
European natural gas prices climbed toward €100 per megawatt-hour, their highest level since December 2022, as the heating season approaches with unusually low inventories and growing geopolitical risks. EU storage facilities were less than 75% full on October 28, compared with a five-year average of around 86%. Inventories stood at approximately 849 TWh, roughly 100 TWh below last year’s level, increasing the need for additional imports to rebuild reserves. Storage levels varied significantly, with Germany at 61.65% and the Netherlands at 65.53%, while France and Italy were better positioned at 87.34% and 90.77%, respectively. Meanwhile, forecasts for colder weather across Europe and parts of Asia could lift heating demand and intensify competition for LNG cargoes. Supply concerns intensified after reports that the US told several Persian Gulf countries to be prepared for a short, intense military campaign after the midterm elections.
2026-10-28
Natural Gas EU traded above 100 EUR/MWh
Natural Gas EU rose above 100, according to trading on a contract for difference (CFD).
2026-10-28