European Gas Hits Three-Year High as Qatar LNG Halt Rocks Market

European natural gas prices spiked to the highest since 2023 amid uncertainty over how long the shutdown at the world’s largest LNG export plant in Qatar will weigh on global energy supplies.

Benchmark futures surged as much as 48%, before paring more than half of the gains to close 22% higher. The price rollercoaster reflects questions in the market over how long the fighting will last after President Donald Trump vowed to do “whatever it takes.”