European gas prices pass €100 for the first time since 2022

Dutch TTF gas, Europe's benchmark, traded above €100 per megawatt-hour on Wednesday, a level last seen in December 2022, as the Iran war disrupts LNG shipments from Qatar and other suppliers. EU storage stood at 75% on 21 October, short of the usual 90% target for November. Energy Commissioner Dan Jørgensen said “Europe faces another energy crisis” and warned “this winter will be difficult for European citizens”.

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