European natural gas exceeded €80 per MWh for the first time, with benchmark
futures up as much as 6.8% to €80.98 — the highest since January 2023. Prices
have roughly doubled since the start of the Middle East war, though remain below
the peaks seen in the earlier energy crisis. Sustained high gas costs could add
to inflationary pressure and, with winter demand expected to rise, risk broader
economic strain across the region.
