European natural gas prices exceed 100 euros per megawatt hour

European natural gas benchmark prices rose above 100 euros per megawatt hour on Wednesday afternoon. France 24, Euronews, and Reuters all reported that the price reached a level not seen since the height of the energy crisis in 2022. [1][2][6]

Euronews specified that prices last touched this milestone in December 2022, following Russia's full-scale invasion of Ukraine. The latest price surge comes as winter approaches across the continent. [1][2]

EU Energy Commissioner Dan Jørgensen warned that Europe faces another energy crisis and a difficult winter, Euronews reported. France 24 noted that the European Union issued a similar warning to households regarding a difficult season ahead. [1][2]

France 24 reported that European Union storage facilities are currently only 72 percent full. However, European Union officials stated that they are not worried about immediate fuel supplies. [1]

Reuters reported that both consumers and industrial operators are starting to feel the financial pain of the price increases as the cold season begins. [6]