European Gas Prices Hit New Highs, Up 49% on the Year as Winter Approaches

European benchmark TTF gas futures averaged $12.41 per MMBtu in 2026 — 49% above 2025's average, per Reuters. Prices climbed again on September 7 as supply tightness and elevated demand persisted. Qatar's force majeure, reducing export capacity 17%, has compressed the storage-refill window before winter. Higher wholesale costs typically feed into household heating and electricity bills.