European natural gas prices surpassed €100 per megawatt-hour on Wednesday, reaching their highest level since December 2022 as disruptions linked to the Iran war deepen concerns about winter supplies. The Dutch TTF benchmark briefly climbed to €100.30, more than three times its level at the beginning of the year. Europe is entering the heating season with depleted reserves. EU gas storage facilities were approximately 75% full in late October, below their usual seasonal levels. The situation has renewed concerns over energy security following Europe's efforts to reduce its dependence on Russian fossil fuels after Moscow's 2022 invasion of Ukraine. Poland has diversified its imports through Norwegian pipelines and LNG terminals, helping reduce its exposure to disruptions in Qatar, according to energy company Orlen.
