BIZThe GuardianMON 26 OCT 2026 / 5:35 AM CDT

European gas prices soar to four-year high over winter supply fears

Jump fuelled by fears of further Middle East supply disruptions amid reports of US-Israeli plans to strike Iran European gas prices have jumped to levels not seen since 2022 as fears continue to grow around the continent’s supply this winter and the conflict in the Middle East. Wholesale gas prices hit €97 (£81) a megawatt-hour on Monday, as temperatures across Europe fell and traders priced in stronger demand for heating.

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European gas prices soar to four-year high over winter supply fears

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