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The Guardian - UK
The Guardian - UK
Business
Lauren Almeida

European gas prices soar to four-year high over winter supply fears

Gas Prices Middle East United States Europe Iran United Kingdom
aerial view of oil and gas storage tanks in Grays, UK
Oil, gas and fuel storage units in Grays. The UK has some of the smallest gas stores across Europe. Photograph: Neil Hall/EPA

European gas prices have jumped to levels not seen since 2022 as fears continue to grow around the continent’s supply this winter and the conflict in the Middle East.

Wholesale gas prices hit €97 (£81) a megawatt-hour on Monday, as temperatures across Europe fell and traders priced in stronger demand for heating.

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