Gas prices in Europe rose sharply: the highest figure since the end of 2022
The European gas market remained under pressure amid the situation in the Middle East and risks emerging along key transport routes.
Natural gas prices in Europe have risen sharply amid concerns about possible disruptions in supplies from the Persian Gulf. Investors are particularly worried that a blockade of the Strait of Hormuz could have a long-term impact on exports of liquefied natural gas (LNG) from the Middle East.
According to DW, on September 14, the price of benchmark gas futures for one-month delivery on the TTF exchange in Amsterdam rose by more than 5 percent, reaching 83.75 euros per megawatt-hour. This was the highest figure recorded since the end of 2022.
According to the DPA agency, the rise in the market is being caused by concerns about possible disruptions in LNG supplies from the Middle East.
Oil prices also rose
On September 14, oil prices also rose by more than 2 percent. The price of Brent crude exceeded 107 dollars per barrel, while the WTI price approached 103 dollars.
Since the beginning of 2026, gas prices in Europe have nearly tripled. Brent crude, meanwhile, has risen in price by nearly 80 percent over the same period.
At the same time, the Brent price remains well below the interim peak of more than 126 dollars per barrel recorded at the end of April.
Threat to another important transport route intensifies
The situation is also escalating at the Bab al-Mandab Strait in the Red Sea. The Iran-backed Houthis in Yemen announced on September 11 that they had taken control of the strait.
Saudi Arabia, meanwhile, temporarily suspended operations of the East-West oil pipeline after drone attacks carried out by the Houthis. Saudi Arabia supports government forces in Yemen.
Germany and other European countries are trying to quickly fill gas storage reserves before the winter season begins.
According to an analysis based on ship tracking data by Bloomberg, LNG deliveries to Western Europe increased in early September. However, last week deliveries declined again, and the pace of filling gas storage facilities slowed.
