European Gas Hits Its Highest Level Since 2022 as LNG Supply Worries Mount
According to Market Talk, the Dutch TTF benchmark rose 3.8% to 93.43 euros per MWh. Traders fear renewed US-Iran escalation could disrupt LNG flows.
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what happened
European natural gas prices have climbed to their highest level since late 2022, Market Talk reports. The benchmark Dutch TTF contract is up 3.8% at 93.43 euros per megawatt-hour and is on course for a weekly gain of almost 7%.
Market participants worry that renewed tensions between the United States and Iran could threaten LNG shipments ahead of winter. Analysts estimate that EU gas storage has likely peaked at only 75%.
ANZ says the market's main hope rests on the mild weather Europe has seen so far this winter. Forecasts point to unseasonably warm conditions returning to northwest Europe next week, though temperatures are expected to fall in November.
why it matters
Low storage combined with the risk of reduced LNG imports makes gas prices especially sensitive to weather and geopolitics. A switch to colder weather would quickly lift demand and put pressure on inventories. For gas traders and European energy companies, this is a key factor over the coming weeks.
market impact
TTF gas and European energy companies: LNG supply risks are supporting prices
tags
instruments
sources
- European Gas Prices at Highest Since 2022 on LNG Supply Fears — Market Talk, 23 October 2026 at 07:57 UTC
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