Europe is heading into the winter heating season with gas prices more than twice as high as they were at the start of the year, while unusually low storage levels and ongoing supply pressures are raising concerns that the situation could worsen in the coming months. A prolonged summer heat wave is adding to the pressure.

European gas prices have surged 120% in 2026, and low storage and supply risks leave Europe vulnerable to a costly winter.

European gas prices have surged 130% in 2026, and low storage and supply risks leave Europe vulnerable to a costly winter.