Economy · Impact 3 Serious

European gas prices hit four-year high over winter supply fears

26 Oct 2026, 10:35 UTC · ≈ Europe · single source so far

Wholesale gas reached €97 per megawatt-hour on Monday, the highest since 2022, amid fears of Middle East supply disruption and reports of US-Israeli plans to strike Iran.

Location: ≈ Europe
Coordinates: ≈ 52.00°N 5.00°E
Reported: 26 Oct 2026, 10:35 UTC
Category: Economy
Impact: 3 of 5 · Serious
Situation: Global trade

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European gas prices hit four-year high on Middle East supply fears

Wholesale European gas reached €97 per megawatt-hour on Monday, the highest since 2022, amid fears of Middle East supply disruption and reports of US-Israeli plans to strike Iran. On the tariff front, the White House said on Friday it is lifting tariffs on some Canadian goods. A US tariff pause is adding unease for American cattle ranchers while boosting beef imports from Brazil.

Audi said it will spend $4bn on its first US factory, in Macon, Georgia, creating 4,500 jobs.
Volkswagen is under pressure from US tariffs, Chinese competition and the costly shift to EVs, with job cuts at home.

Updated 26 Oct 2026, 11:05 UTC · Written by Claude from the reports on this page and on the map. Check the linked sources for full details.

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