European Gas Prices Surpass €97 for First Time Since 2022

European natural gas prices climbed above €97 per megawatt-hour, reaching their highest level since 2022 as concerns mounted over winter supplies.

The rise reflected growing anxiety about whether available supplies would be sufficient to meet demand during the winter season, when heating needs place greater pressure on the gas market.

Persistent geopolitical tensions in the Middle East added to those concerns, deepening uncertainty over the supply outlook.

The move above €97 underscores the market’s sensitivity to both seasonal supply pressures and geopolitical risks, with winter supply security remaining a central concern.