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European gas prices reach highest level since 2023 on Mideast flare-up

World News

09-09-2026 | 11:01

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European gas prices reach highest level since 2023 on Mideast flare-up

European gas prices rose sharply Wednesday to their highest level since early 2023, topping 80 euros per megawatt-hour (MWh), amid renewed conflict between the United States and Iran and seasonally low reserves in Europe.

At 1440 GMT, the Dutch TTF contract -- the benchmark for European gas -- rose 4.4 percent to 79.21 euros per MWh, having earlier hit 80.99 euros, spiking just as Europe needs to replenish its stocks ahead of winter.

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