European gas prices hit highest since 2022 on tight LNG supply, colder forecasts
Published . Updated .
TTF and UK gas hit their highest since December 2022 on Hormuz LNG disruptions and colder weather; Rystad sees Europe's 2026 LNG bill up $12 billion.
Directly affected
- No company is named in this report.
Indirectly affected
- UNG United States Natural Gas Fund-7.2% 30d
United States Natural Gas Fund: it follows natural-gas prices. Linked by “lng” (natural gas) in this story.
- XLE Energy Select Sector SPDR+7.4% 30d
Energy Select Sector SPDR: it follows natural-gas prices. Linked by “lng” (natural gas) in this story.
- USO United States Oil Fund+8.2% 30d
United States Oil Fund: its price follows crude oil. Linked by “gas prices” (oil) in this story.
- BWET Breakwave Tanker Shipping ETF+64.8% 18d
Breakwave Tanker Shipping ETF: it tracks tanker freight rates. Linked by “gas prices” (tanker shipping) in this story.
- VGK Vanguard FTSE Europe ETF
Vanguard FTSE Europe ETF holds stocks listed in Europe, which this story is about (“european”).
- EWU iShares MSCI United Kingdom ETF-2.3% 30d
iShares MSCI United Kingdom ETF holds stocks listed in the UK, which this story is about (“uk”).
- OXY Occidental Petroleum+3.8% 18d
Occidental Petroleum (crude petroleum and natural gas): gas producers and exporters earn more when gas prices rise. Linked by “lng” (natural gas) in this story.
- LNG Cheniere Energy+8.9% 30d
Cheniere Energy (natural gas distribution): gas producers and exporters earn more when gas prices rise. Linked by “lng” (natural gas) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| UNGNo price data for this ticker | — | — | — | — | — | — | — |
| XLE | -2.19% | -1.69% | base | -0.41% | after close | after close | after close |
| USO | -5.13% | -5.78% | base | -2.94% | after close | after close | after close |
| BWETNo price data for this ticker | — | — | — | — | — | — | — |
| VGKNo price data for this ticker | — | — | — | — | — | — | — |
| EWUNo price data for this ticker | — | — | — | — | — | — | — |
| OXY | -2.23% | -2.27% | base | -1.14% | after close | after close | after close |
| LNGNo price data for this ticker | — | — | — | — | — | — | — |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
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European gas prices hit highest since 2022 on tight LNG supply, colder forecasts Pipeline and Gas Journal
Source: Pipeline and Gas Journal
How United States Natural Gas Fund (UNG) moved across the last 13 energy stories
| Company | When | Average | Largest gain | Largest drop | Prices |
|---|---|---|---|---|---|
| Select Sector Spdr Tr (XLE) | the next day | +1.28% | +1.88% | -0.41% | 13 |
| Select Sector Spdr Tr (XLE) | three days later | +1.48% | +2.40% | -0.96% | 13 |
| United States Oil Fund (USO) | the next day | +1.81% | +5.29% | -0.66% | 13 |
| United States Oil Fund (USO) | three days later | +1.53% | +4.59% | +0.46% | 13 |
- Shafaq News..Iran detects burning tanker near Strait of Hormuz
- Oil Prices Fall as Traders Weigh IEA Reserve Releases, Hormuz Risks
- Vitol: Hormuz flare-up, low exports keep fuel oil premiums high
- Crude Oil Slips as Hormuz Shipping Risks and US Inventory Draw Support Weekly Gains
- Ship-Fuel Squeeze Persists Despite More Hormuz Crude, Vitol Says
- Footage shows small boats gathered around floating shipping containers after a Singapore-flagged cargo ship sank near the Strait of Hormuz on Wednesday. The vessel was struck by an unknown projectile, according to Singapore’s maritime authority. Read
Price since this story was published: United States Natural Gas Fund (UNG)
| Company | When | Move | Status |
|---|---|---|---|
| OXY | that day | -1.14% | still updating |
| OXY | three days earlier | -2.27% | final price |
| OXY | five days earlier | -2.23% | final price |
| United States Oil Fund (USO) | that day | -2.94% | still updating |
| United States Oil Fund (USO) | three days earlier | -5.78% | final price |
| United States Oil Fund (USO) | five days earlier | -5.13% | final price |
| Select Sector Spdr Tr (XLE) | that day | -0.41% | still updating |
| Select Sector Spdr Tr (XLE) | three days earlier | -1.69% | final price |
| Select Sector Spdr Tr (XLE) | five days earlier | -2.19% | final price |
Trades by members of Congress and officials in the stocks in this story
- Donald J Trump, an executive branch official, bought Occidental Petroleum (OXY), worth $100,001 - $250,000 on 21 Aug 2026. That is 66 days before publication. Filed 8 Oct 2026. View the filing.
- Rep. Michael T. McCaul sold Eqt (EQT) (held by a spouse), worth $1,001 - $15,000 on 27 Aug 2026. That is 60 days before publication. Filed 14 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Eqt (EQT), worth $1,001 - $15,000 on 17 Aug 2026. That is 70 days before publication. Filed 8 Oct 2026. View the filing.
- Rep. Michael T. McCaul sold Eqt (EQT) (held by a spouse), worth $1,001 - $15,000 on 14 Aug 2026. That is 73 days before publication. Filed 14 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, sold Kinder Morgan (KMI), worth $1,001 - $15,000 on 31 Jul 2026. That is 87 days before publication. Filed 22 Sep 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
The Strait of Hormuz count beside this story
Geopolitics Alpha has 119 stories about Strait of Hormuz from the past 7 days and 295 stories from the past 30. That is faster than its usual pace over the past month. “European gas prices hit highest since 2022 on tight LNG supply, colder forecasts” is tagged to Strait of Hormuz.
Who collects and who pays in energy
Companies carried with this story
- UNG United States Natural Gas Fund
For “European gas prices hit highest since 2022 on tight LNG supply, colder forecasts,” United States Natural Gas Fund (UNG) is linked, with no stored direction, medium confidence. Reason on file: United States Natural Gas Fund: it follows natural-gas prices. Linked by “lng” (natural gas) in this story
- XLE Select Sector Spdr Tr
In “European gas prices hit highest since 2022 on tight LNG supply, colder forecasts,” Select Sector Spdr Tr (XLE) is linked, with no stored direction, medium confidence. Reason on file: Energy Select Sector SPDR: it follows natural-gas prices. Linked by “lng” (natural gas) in this story
- USO United States Oil Fund
In “European gas prices hit highest since 2022 on tight LNG supply, colder forecasts,” United States Oil Fund (USO) is linked, with no stored direction, medium confidence. Reason on file: United States Oil Fund: its price follows crude oil. Linked by “gas prices” (oil) in this story
- BWET Amplify Commodity Trust
Amplify Commodity Trust (BWET) is linked, with no stored direction, medium confidence in the 26 Oct 2026 story “European gas prices hit highest since 2022 on tight LNG supply, colder forecasts.” Reason on file: Breakwave Tanker Shipping ETF: it tracks tanker freight rates. Linked by “gas prices” (tanker shipping) in this story
- VGK Vanguard Intl Equity Index F
In “European gas prices hit highest since 2022 on tight LNG supply, colder forecasts,” Vanguard Intl Equity Index F (VGK) is linked, with no stored direction, medium confidence. Reason on file: Vanguard FTSE Europe ETF holds stocks listed in Europe, which this story is about (“european”)
- LNG Cheniere Energy
For “European gas prices hit highest since 2022 on tight LNG supply, colder forecasts,” Cheniere Energy (LNG) is linked, with no stored direction, medium confidence. Reason on file: Cheniere Energy (natural gas distribution): gas producers and exporters earn more when gas prices rise. Linked by “lng” (natural gas) in this story
- EQT Eqt
Eqt (EQT) is linked, with no stored direction, medium confidence in the 26 Oct 2026 story “European gas prices hit highest since 2022 on tight LNG supply, colder forecasts.” Reason on file: Eqt (crude petroleum and natural gas): gas producers and exporters earn more when gas prices rise. Linked by “lng” (natural gas) in this story
- KMI Kinder Morgan
In “European gas prices hit highest since 2022 on tight LNG supply, colder forecasts,” Kinder Morgan (KMI) is linked, with no stored direction, medium confidence. Reason on file: Kinder Morgan (natural gas transmission): gas producers and exporters earn more when gas prices rise. Linked by “lng” (natural gas) in this story
From Strait of Hormuz to United States Natural Gas Fund (UNG)
The 26 Oct 2026 story “European gas prices hit highest since 2022 on tight LNG supply, colder forecasts” names United States Natural Gas Fund (UNG) because of Strait of Hormuz.
For United States Natural Gas Fund (UNG), the reason on file says United States Natural Gas Fund: it follows natural-gas prices. Linked by “lng” (natural gas) in this story
Also listed, Select Sector Spdr Tr (XLE): Energy Select Sector SPDR: it follows natural-gas prices. Linked by “lng” (natural gas) in this story
Dates in the story, and the United States Natural Gas Fund (UNG) price range
UNG traded between 9.52 and 11.43 across 20 sessions. The latest close on file is 9.59. USO traded between 141.82 and 169.96 across 20 sessions. The latest close on file is 169.55. XLE traded between 60.95 and 69.72 across 20 sessions. The latest close on file is 69.32.
How solid the energy case looks
46 out of 100Price not final
“European gas prices hit highest since 2022 on tight LNG supply, colder forecasts” scores 46 out of 100. The score uses 1 sources, and 8 linked companies. The price is not final yet.