European natural gas prices rose to above €60 per MWh on Tuesday, hitting a fresh four-month high as the US and Iran continued to exchange strikes while President Donald Trump downplayed the likelihood of imminent talks. Trump said Iran “desperately wants to meet” but added that the US had no interest in talks. Iran, however, rejected these claims. Trump also warned of retaliation if Iran-backed Houthi rebels disrupted shipping in the Red Sea and renewed threats to strike Pickaxe Mountain, a suspected Iranian nuclear facility. The escalating conflict has disrupted tanker traffic through the Strait of Hormuz and curtailed LNG exports from the Gulf, fueling concerns over tighter global gas supplies. Europe is currently in the process of refilling storage facilities ahead of the heating season, and reduced LNG availability from the Gulf could force the bloc into more intense and costly competition with Asian buyers for available cargoes.

EU Gas rose to 59.91 EUR/MWh on July 22, 2026, up 0.36% from the previous day. Over the past month, EU Gas's price has risen 41.35%, and is up 83.27% 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 July 22 of 2026.

EU Gas rose to 59.91 EUR/MWh on July 22, 2026, up 0.36% from the previous day. Over the past month, EU Gas's price has risen 41.35%, and is up 83.27% 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 60.24 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 72.09 in 12 months time.



Price Day Month Year Date
Crude Oil 85.39 1.047 1.24% 16.63% 30.86% Jul/22
Brent 92.16 1.152 1.27% 19.57% 34.52% Jul/22
Natural gas 2.88 0.0163 0.57% -9.51% -6.36% Jul/22
Gasoline 3.42 0.0163 0.48% 15.65% 61.49% Jul/22
Heating Oil 4.15 0.0222 0.54% 31.52% 69.41% Jul/22
EU Gas 59.81 0.11 0.19% 41.10% 82.95% Jul/22
UK Gas 144.57 3.1100 2.20% 44.44% 81.19% Jul/21
Ethanol 1.92 0 0% 4.92% 6.67% Jul/21
Naphtha 783.46 28.33 3.75% 14.10% 43.24% Jul/21
Propane 0.76 -0.003 -0.38% 5.82% 7.76% Jul/21
Uranium 85.55 -0.1500 -0.18% -0.23% 20.07% Jul/20
Methanol 2,681.00 -94.00 -3.39% -1.00% 10.65% Jul/21



Related Last Previous Unit Reference
Germany Natural Gas Imports 302324.40 316109.83 Terajoule Jun 2026
France Natural Gas Imports 124522.25 143947.76 Terajoule Jun 2026
Germany Natural Gas Stocks Inventory 111.98 111.44 TWh Jul 2026
France Natural Gas Stocks Inventory 65.67 65.17 TWh Jul 2026

EU Natural Gas
Dutch TTF Gas is a leading European benchmark price as the volumes traded represent more than 14 times the amount of gas used by the Netherlands for domestic purposes. Contracts are for physical delivery through the transfer of rights in respect of Natural Gas at the Title Transfer Facility (TTF) Virtual Trading Point, operated by Gasunie Transport Services (GTS), the transmission system operator in the Netherlands. Delivery is made equally each hour throughout the delivery period from 06:00 (CET) on the first day of the month until 06:00 (CET) on the first day of the next month. Futures are available for trading in the Intercontinental Exchange Inc. (ICE). Prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our natural gas market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. The data is supplied by a third party and, while efforts are made to ensure its accuracy, Trading Economics does not verify the data and makes no representations or warranties regarding its accuracy..
Actual Previous Highest Lowest Dates Unit Frequency
59.91 59.70 345.00 3.37 2010 - 2026 EUR/MWh Daily

News Stream
EU Gas Prices Climb as Middle East Tensions Persist
European natural gas prices rose to above €60 per MWh on Tuesday, hitting a fresh four-month high as the US and Iran continued to exchange strikes while President Donald Trump downplayed the likelihood of imminent talks. Trump said Iran “desperately wants to meet” but added that the US had no interest in talks. Iran, however, rejected these claims. Trump also warned of retaliation if Iran-backed Houthi rebels disrupted shipping in the Red Sea and renewed threats to strike Pickaxe Mountain, a suspected Iranian nuclear facility. The escalating conflict has disrupted tanker traffic through the Strait of Hormuz and curtailed LNG exports from the Gulf, fueling concerns over tighter global gas supplies. Europe is currently in the process of refilling storage facilities ahead of the heating season, and reduced LNG availability from the Gulf could force the bloc into more intense and costly competition with Asian buyers for available cargoes.
2026-07-22
EU Gas Prices Rise Further
European natural gas prices climbed to above €59 per MWh on Tuesday, a four-month high, as continued attacks between the US and Iran outweighed reports of diplomatic efforts to ease tensions. Tehran said it had received a proposal from mediators for a 10-day ceasefire aimed at reviving the interim deal reached last month. This comes as the US carried out a tenth consecutive day of strikes against Iran, while Tehran continued retaliatory attacks against neighboring countries. The renewed hostilities have brought tanker traffic through the Strait of Hormuz to a standstill and delayed the anticipated recovery in Qatari LNG exports, reducing available supplies and intensifying competition among European and Asian buyers for cargoes. This makes increasingly difficult for Europe to replenish reserves ahead of winter, with storage facilities currently around 53% full, compared with roughly 64% a year ago and about 15 percentage points below the five-year average.
2026-07-21
EU Gas Hits 4-Month High as US-Iran Hostilities Intensify
European natural gas prices surged as high as €60.5 per MWh during Asian trading on Monday, marking a four-month high, before trimming gains to around €58.5, amid mounting fears of deeper supply disruptions as hostilities between the US and Iran escalated over the weekend. The US Central Command said on Sunday that it had carried out a fresh round of strikes against Iran for the ninth consecutive night, while Kuwait and Bahrain reported Iranian attacks. The conflict has widened beyond military targets to include bridges, utility infrastructure, and port facilities, increasing the risk of a return to full-scale war. Shipping activity through the Strait of Hormuz has largely come to a halt, with the US enforcing a naval blockade on Iranian ports and Tehran targeting vessels it says are violating its regulations. These supply risks, coupled with stronger demand for power generation, are making it more difficult for Europe to refill its vast storage facilities before winter.
2026-07-20