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

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This story was selected and curated by our editorial team in the Business category. Published on October 26, 2026 • Originally reported by Lauren Almeida. OMEGAZEPRIME provides independent news coverage and analysis for our readers. Stay informed with the latest developments.

Jump fuelled by fears of further Middle East supply disruptions amid reports of US-Israeli plans to strike Iran

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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