European natural gas price reaches €100 per megawatt hour, first time since 2022

The price of European natural gas reached €100 per megawatt hour (MWh) on Wednesday, 28 October 2026, according to Reuters and France 24. Both outlets reported that this was the first time the price had reached that level since 2022.

According to Reuters, the figure refers to Europe's benchmark natural gas contract. Reuters reported that the price briefly touched €100/MWh. France 24 described the price as having "topped" €100. It did not say how long the price stayed at that level.

Supply and storage

According to Reuters, disruptions to Middle East shipping of liquefied natural gas (LNG) are keeping supply tight ahead of winter. Reuters also reported that consumers and industry are feeling the effects of high energy prices.

According to France 24, gas storage facilities in the European Union are 72% full.

What each side says

The European Union is not worried about gas supplies, according to France 24. France 24 also reported that the EU warned households of a "difficult" season to come.

The reports do not identify which EU institution or official made these statements. They also do not include the full statement.

What the reports do not include

The reports reviewed by Vocemundi leave several questions open:

• They do not name the benchmark contract or its trading hub.
• They do not give the exact peak price or the closing price.
• Reuters says the price only briefly touched €100/MWh, but neither report says where it settled afterwards.
• They do not describe the nature, scale or expected duration of the Middle East LNG shipping disruptions.
• They do not give the source or reference date for the 72% storage figure. They do not compare it with previous years or with EU targets.
• They do not quantify the impact on households or industry, such as bill levels or effects on industrial output.

The Reuters report reviewed by Vocemundi is a short summary. The France 24 report is a brief video description. Neither includes full reporting detail or named market sources. Vocemundi will update this article if more information becomes available.

Analysis

The two reports describe a market under pressure but leave key details open, including where prices settled after what Reuters calls a brief touch of €100/MWh. Several scenarios are possible. If the Middle East LNG shipping disruptions Reuters describes ease, supply could loosen. If they continue into winter, pressure on prices could persist. The storage figure reported by France 24 is hard to assess without a comparison to past years or targets. The EU's reported position combines reassurance on supply with a warning to households. This suggests a possible distinction between physical availability of gas and its cost, though the reports do not state this directly.

Produced by the Vocemundi newsroom with AI assistance.