Economy · Impact 3 Serious

EU natural gas prices top €100/MWh for first time since 2022

28 Oct 2026, 22:02 UTC · Brussels, Belgium · single source so far

European gas topped €100 per megawatt hour, the highest since 2022, with EU storage only 72% full. The EU says it is not worried about supplies but warns of a difficult winter for households.

Location: Brussels, Belgium · Belgium live map
Coordinates: 50.85°N 4.35°E
Reported: 28 Oct 2026, 22:02 UTC
Category: Economy
Impact: 3 of 5 · Serious
Situation: Global trade

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EU gas tops €100/MWh for first time since 2022 as storage sits at 72%

On Wednesday European gas topped €100 per megawatt hour, the highest since 2022, with EU storage only 72% full. The EU says it is not worried about supplies but warns of a difficult winter for households. Prices had reached €97 on Monday amid fears of Middle East supply disruption and reports of US-Israeli plans to strike Iran. Separately, trade ties are shifting, with the EU proposing Canada as its first associate member and Canada signing a deal with the UAE.

Gas passed €100/MWh on Wednesday after hitting €97 on Monday, the highest levels since 2022.
US Trade Representative Jamieson Greer warned on Tuesday that a $3.4 billion European Investment Bank loan to Airbus could jeopardise the US-EU tariff truce.
The EU proposed Canada as its first associate member, while Canada signed a trade deal with the UAE on Wednesday amid tensions over US tariffs.
Internal documents say Canada faces an EU carbon tariff threat within months.

Updated 28 Oct 2026, 22:30 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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