European Gas Prices Surge to Three-Year High Amid Supply Concerns

According to the International Desk of Webangah News Agency, the price of natural gas in Europe has surged by 2.3 percent, reaching 75 euros per megawatt-hour, marking the highest point since the beginning of 2023. This significant increase was reported by Al-Masirah news agency, citing Mehr News Agency data.

Just one week prior, reports indicated that European natural gas prices, particularly for Dutch TTF benchmark contracts, had already climbed above the 70-euro per megawatt-hour threshold. This rise was attributed to worries about potential supply interruptions and the intensification of conflicts in the Middle East.

The surge in gas prices has also contributed to a rise in Eurozone inflation. In August, inflation reached 3.3 percent, the highest level recorded in the past three years.

Preliminary estimates from Eurostat show that Eurozone inflation rose from 2.9 percent in July to 3.3 percent in August 2026.