Europe enters the heating season with gas prices at an all-time high

European gas prices have surpassed 100 euros per megawatt-hour for the first time since 2022, intensifying pressure on businesses and households. This increase follows a tripling of prices since late February, driven by geopolitical tensions in the Middle East. The situation is exacerbated by potential military escalations involving the U.S. and Iran, which could disrupt the Strait of Hormuz. Meanwhile, Qatari LNG exports are slowly resuming after a significant halt, with 27 shipments recorded in September.