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Natural gas prices in Europe hit record highs due to Middle Eastern conflict

European gas prices have surpassed 76 euros per megawatt-hour, a level last seen in January 2023, reflecting strong market pressure due to the Middle Eastern conflict.

10 September 2026Tagblick Newsdesk

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Archive photo: Natural gas prices in Europe hit record highs due to Middle Eastern conflict — Archive photoPhoto: CARLOS534 · Wikimedia Commons · CC BY-SA 4.0

On October 3, 2023, the price of natural gas for one-month delivery on the Dutch TTF market rose by more than 4%, exceeding 76 euros per megawatt-hour (MWh). This level is the highest since January 2023, according to several sources.

This price increase is primarily attributed to escalating tensions in the Middle East, which have placed additional pressure on European energy markets. Conflicts in the region have been exacerbated by strikes between Iran and the United States, complicating the refilling of gas stocks ahead of winter.

A report indicates that the gas price has jumped to 79.21 euros, representing a 4.44% increase. This situation comes amid concerns about insufficient stock levels in Europe, worsened by recent developments in the conflict zone, further intensifying tensions in the energy market.

Experts emphasize that the impact of these events may be felt in the long term as the market seeks to adjust to these fluctuations. Upcoming changes in energy policies might also be a necessary response to this market dynamic.

Meanwhile, the European Central Bank (ECB) is considering adjusting its rates to address the inflationary pressures associated with rising energy prices, although the outlook on inflation and growth remains uncertain. The consequences of recent events in the Middle East continue to influence the decisions of financial markets and regulators.

In summary, the combination of regional conflicts and unfavorable market conditions has led to significant increases in gas prices in Europe, raising concerns for the months ahead.

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