09:48 - 29.10.2026

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October 28, Fineko/abcnews. European natural gas benchmark prices surged past €100 per megawatt-hour, reaching their highest level since December 2022 due to Middle East conflict disruptions to Qatar's LNG shipments and fierce demand competition from Asia.

Dutch TTF front-month futures traded near €101/MWh during the session. Qatar’s LNG exports—which account for nearly 20% of global supply—have plummeted to a quarter of pre-war levels owing to the blockage at the Strait of Hormuz.

As Asian buyers outbid European importers to secure winter fuel, analysts warn that severe cold spells early next year could push European gas prices up to €130/MWh.