{
  "id": 16583575,
  "title": "Europe's Natural Gas Prices Soar to Four-Year High as Winter Looms",
  "url": "https://urgent.news/2026/10/26/europes-natural-gas-prices-soar-to-four-year-high-as-winter-looms",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-26T09:30:00.000Z",
  "source": {
    "name": "OilPrice",
    "slug": "oilprice",
    "url": "https://oilprice.com/Latest-Energy-News/World-News/Europes-Natural-Gas-Prices-Soar-to-Four-Year-High-as-Winter-Looms.html"
  },
  "original_language": "en",
  "account": "Europe's benchmark natural gas price surged to a four-year high as winter approaches, according to wire material. The price at the Dutch Title Transfer Facility TTF, which serves as the benchmark for Europe's gas trading, climbed by 2.1% to as much as $107.40 per megawatt-hour (MWh). This marks the highest level since 2022. The European natural gas price has reached its peak since the autumn of 2022, a period when Europe experienced its first winter without most of the Russian pipeline gas supply. Currently, this price is equivalent to more than $30 per million British thermal units (MMBtu). At the end of October 25, EU storage sites were only 74.62% full, significantly lower than the five-year average of about 86% for this time of year. This shortage of gas storage is due to the Middle East crisis, which has halted most LNG flows out of the Persian Gulf. Qatar, once the world's second-largest LNG exporter, has slowed its exports by a significant margin, causing Europe and Asia to compete fiercely for alternative spot supply. The shortage of LNG cargoes further fuels European and Asian prices to their highest levels since 2022. As winter looms, the risks of upward price movements increase with each passing day without LNG flowing through the Strait of Hormuz. According to Ole Hansen, Head of Commodity Strategy at Saxo Bank, European gas inventories currently stand at around 845 TWh, which is approximately 100 TWh below the level recorded at this time last year. This shortfall alone is equivalent to the energy carried by more than 80 large LNG carriers, emphasizing the scale of additional imports needed to rebuild the buffer for winter.",
  "summary": "Europe’s benchmark natural gas price jumped by 2% at opening in Amsterdam on Monday, extending the 7% weekly gain from last week, as concerns mount that the gas withdrawal season has started amid no signs that Qatar’s LNG flows would return anytime soon. The front-month price at the Dutch Title Transfer Facility (TTF), the benchmark for Europe’s gas trading, rose by 2.1% to as much as $107.40…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}