European Gas Prices Surge Above $750 for First Time Since January 2023

14:49; 03 March 2026 year

Gas prices in Europe have surged above $750 per 1,000 cubic meters on the ICE Futures Europe exchange following the closure of the Strait of Hormuz, according to data from the London-based exchange.

During trading, the price of a gas futures contract for delivery in April 2026 nearly reached $756 per 1,000 cubic meters, equivalent to €63.005 per MWh. This is the highest level since January 2023.

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