European gas prices hit four-year high on winter supply fears

Wholesale gas in Europe jumped to €97 per megawatt-hour on Monday, the highest since 2022, as temperatures fell and fears grew over Middle East supply disruptions. The UK month-ahead contract rose 4% to 240p a therm. European storage is about 75% full against a seasonal average near 80%, after weaker Qatari exports and high summer demand.