European natural gas prices climbed to near €63 per MWh on Friday, reaching their highest level since January 2023, as escalating tensions between the US and Iran raised fresh concerns over Europe's LNG supply security. The US carried out its 13th consecutive night of strikes on Iran, while President Donald Trump warned Tehran and its Houthi allies in Yemen of "major military punishment" if further attacks on vessels in the Red Sea take place. European gas prices have surged more than 10% this week and over 45% since the start of July, as reduced LNG flows from the Persian Gulf intensified competition with Asian buyers for available cargoes. At the same time, unusually hot weather across Europe has lifted electricity demand for cooling, increasing gas consumption. Equinor, Europe's largest gas supplier, warned that the region is unlikely to reach its 80% storage target before the heating season, leaving markets more exposed to price volatility.

EU Gas rose to 63.14 EUR/MWh on July 24, 2026, up 1.90% from the previous day. Over the past month, EU Gas's price has risen 54.95%, and is up 91.31% 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 345.00 in March of 2022. EU Natural Gas - data, forecasts, historical chart - was last updated on July 26 of 2026.

EU Gas rose to 63.14 EUR/MWh on July 24, 2026, up 1.90% from the previous day. Over the past month, EU Gas's price has risen 54.95%, and is up 91.31% 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 65.88 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 79.23 in 12 months time.



Price Day Month Year Date
Crude Oil 90.47 -1.720 -1.87% 25.79% 38.84% Jul/24
Brent 98.38 -2.310 -2.29% 30.30% 43.75% Jul/24
Natural gas 2.88 -0.0338 -1.16% -12.53% -8.73% Jul/24
Gasoline 3.42 -0.0781 -2.23% 17.77% 63.44% Jul/24
Heating Oil 4.23 -0.1161 -2.67% 31.67% 75.61% Jul/24
EU Gas 63.14 1.18 1.90% 54.95% 91.31% Jul/24
UK Gas 152.55 3.1000 2.07% 58.13% 86.81% Jul/24
Ethanol 1.94 0.0150 0.78% 3.48% 9.32% Jul/23
Naphtha 810.35 -23.28 -2.79% 18.22% 47.38% Jul/24
Propane 0.75 -0.02 -2.38% 4.65% 4.72% Jul/24
Uranium 86.05 0.2000 0.23% 0.64% 20.10% Jul/24
Methanol 2,732.00 -2.00 -0.07% 9.24% 9.76% Jul/24



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 112.88 112.64 TWh Jul 2026
France Natural Gas Stocks Inventory 66.87 66.57 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
63.14 61.96 345.00 3.37 2010 - 2026 EUR/MWh Daily

News Stream
EU Gas Hits 18-week High
EU Gas increased to 64.02 EUR/MWh, the highest since March 2026. Over the past 4 weeks, Natural Gas EU gained 56.97%, and in the last 12 months, it increased 93.8%.
2026-07-24
EU Natural Gas Prices Rise to 3-1/2-Year High
European natural gas prices climbed to near €63 per MWh on Friday, reaching their highest level since January 2023, as escalating tensions between the US and Iran raised fresh concerns over Europe's LNG supply security. The US carried out its 13th consecutive night of strikes on Iran, while President Donald Trump warned Tehran and its Houthi allies in Yemen of "major military punishment" if further attacks on vessels in the Red Sea take place. European gas prices have surged more than 10% this week and over 45% since the start of July, as reduced LNG flows from the Persian Gulf intensified competition with Asian buyers for available cargoes. At the same time, unusually hot weather across Europe has lifted electricity demand for cooling, increasing gas consumption. Equinor, Europe's largest gas supplier, warned that the region is unlikely to reach its 80% storage target before the heating season, leaving markets more exposed to price volatility.
2026-07-24
EU Natural Gas Hovers at 4-Month High
European natural gas prices rose back above €62 on Friday, hovering at a four-month high, amid concerns over Europe’s LNG supply security as US-Iran fighting intensifies. The US carried out its 13th consecutive night of strikes on Iran, with President Donald Trump warning Tehran and its Houthi allies in Yemen of “major military punishment” if the group launches further attacks on vessels in the Red Sea. EU gas prices have climbed 8% so far this week and surged more than 42% in July so far, as curtailed LNG flows from the Persian Gulf intensified competition with Asian buyers, while hot weather across Europe boosted electricity demand for cooling. These factors are making it more challenging for Europe to replenish its gas storage facilities ahead of winter. Equinor, Europe’s largest gas supplier, said the bloc is unlikely to reach its 80% storage target before the heating season, leaving the market more vulnerable to sharp price swings when colder weather arrives.
2026-07-24