European Natural Gas Prices Near €100

European natural gas prices rose back toward €100 per megawatt-hour on Friday, the highest since late 2022, and on track for a monthly gain of more than 30%, amid concerns over a renewed escalation of the Middle East war and Europe’s need to secure gas supplies ahead of winter.

Geopolitical risks intensified after reports on Thursday that a top military commander briefed President Trump on potential military options against Iran.

Europe’s gas supply is currently tight amid reduced LNG deliveries from the Persian Gulf, with storage levels at 74.89% as of October 29, below historical averages.

Moreover, forecasts of colder weather across Europe, potentially coinciding with cold spells in Asia, could boost heating demand and affect storage replenishment.

This story was originally published by Hellenic Shipping News. Read the full story at Hellenic Shipping News →