European Gas Prices to Reach €100 Due to the War Against Iran

According to Seday-e Sama, citing Goldman Sachs, European gas prices may need to rise above €100 ($117) per megawatt-hour in December to ensure sufficient gas storage levels for the winter season.

Goldman Sachs analysts Samantha Dart and Laura Sire noted that even the recent rise in front-month Dutch gas futures—the benchmark for European gas prices—would likely be insufficient to attract enough liquefied natural gas (LNG) from Asian markets, particularly if supply disruptions in the Middle East continue into next year.

The Dutch front-month gas contract rose last week to its highest level in five months, exceeding €65 per megawatt-hour.