European Gas Prices Hit Highest Level Since 2022 Crisis After Saudi Pipeline Shutdown
Sep 14, 2026
Europe's benchmark natural gas price at the Dutch TTF hub jumped 6 percent at the Monday, September 14, 2026 (23 Shahrivar 1405) Amsterdam market open to $97.31 (84.275 euros) per megawatt hour, according to Oilprice.com, the contract's highest level since the winter 2022 to 2023 energy crisis and above its January 2023 level. The main driver was the precautionary shutdown of Saudi Arabia's strategic East to West pipeline, which carries crude to Red Sea ports without passing through the Strait of Hormuz and has been offline since last week's drone attack.
Per Oilprice.com, European gas storage sites are less than 70 percent full for this time of year, compared with 82 percent a year earlier and a five year average above 80 percent, leaving Europe heading into winter with one of its lowest storage levels in two decades. Go Katayama, an analyst at intelligence firm Kpler, told Bloomberg there is potential for a global fight for fuel if winter turns colder, a warning that also has a bearing on Iran's domestic market given some industries' exposure to global energy prices.
Source
Oilprice.com
Related news
Brent Crude Jumps Above $107 as Hormuz Traffic Drops
Brent crude jumped more than 3 percent, up 3.21 dollars, to 107.82 dollars a barrel on Monday, September 14, after an Iranian ship was attacked in the Strait of Hormuz on Sunday and Saudi Arabia's East to West oil pipeline was damaged in a drone strike. Reuters reported that vessel transits through Hormuz fell to 14 a day over the weekend, below the 10 day average and far under the more than 100 daily transits recorded before the US and Israeli war on Iran began. US Energy Secretary Chris Wright told Bloomberg that oil flows through Hormuz averaged 10 million barrels a day over the past week, about two thirds of pre war levels. Sahmino's own price data showed Brent at 107.96 dollars as of 19:28 Tehran time on Tuesday, September 15, up 1.65 percent on the day.
Al Jazeera · Sep 15, 2026
Iran's Light and Heavy Crude Prices Rise More Than 2 Percent
The price of a barrel of Iranian light crude for delivery to northwest Europe reached 105.25 dollars, according to Mehr News Agency citing OilPrice.com, as published by Donya-e-Eqtesad on Tuesday, September 15, 2026, a rise of 2.43 dollars, or 2.36 percent, from the previous day. Iranian heavy crude rose by the same absolute amount, 2.43 dollars, or 2.41 percent, to 103.35 dollars a barrel. The prices refer to Iranian crude delivered in northwest Europe and are reported with a one day lag. In global markets, Brent crude crossed 107 dollars the same day, reaching 107.90 dollars a barrel.
Donya-e-Eqtesad, citing Donya-e-Eqtesad via Mehr · Sep 15, 2026
Kromit obtains permit for trial copper extraction at Tarosak mine, projects up to 120 billion rials in added sales
Iran Manganese Mines Company, trading under ticker Kromit, disclosed via codal on Tuesday, September 15, 2026, that it had obtained a permit for trial extraction of 150 tons of copper at its Tarosak mine, and said it is pursuing an initial discovery certificate for 30,000 to 50,000 tons followed by an operating license for about 8,000 to 10,000 tons of annual extraction. The company estimated the operation would add about 100 to 120 billion rials to sales in the current fiscal year, with sales revenue from it reaching roughly 500 billion rials the following fiscal year. The Ministry of Industry, Mine and Trade permit was issued on September 9 and sent for signature.
Codal · Sep 15, 2026
Iraq seizes drone launch platform used in attack on Saudi oil pipeline
According to Iraq's state-run news agency INA, as reported by Al Jazeera, Lieutenant General Saad Maan, head of Iraq's Security Media Cell, said on Saturday, September 12, 2026, that Iraqi security and intelligence forces had located and seized the drone-launching equipment used in a strike on Saudi Arabia's East-West oil pipeline. He said Iraq's commander-in-chief had approved an Iranian request to join the investigation and review its findings, and that Baghdad was sharing intelligence directly with Saudi authorities. Saudi authorities had traced the launch site to Maysan province in southeastern Iraq, near the Iranian border. The pipeline, which carries about 4 to 5 percent of global oil supply and lets Saudi Arabia bypass the Strait of Hormuz, had been shut down as a precaution after the preceding Thursday's attack.
Al Jazeera · Sep 15, 2026