European Gas Prices Surge to Highest Level Since 2022 Amid Middle East Risks European natural gas prices climbed to their highest level since December 2022 as renewed security concerns in the Middle East threatened global energy supplies. Reports of an attack on a liquefied natural gas (LNG) tanker near Yemen heightened fears of further disruptions to shipments, particularly through critical Middle Eastern shipping routes. Benchmark Dutch gas futures rose as much as 2%, extending the previous week’s rally as traders assessed the risk of tighter supplies ahead of winter. Europe’s energy outlook remains vulnerable due to low gas inventories, which are just over 74% full compared with the five-year seasonal average of 89%. Although mild weather has supported storage refilling, prolonged supply disruptions and rising winter demand could push prices higher. European gas prices have already more than doubled from pre-conflict levels, increasing pressure on businesses, consumers and the wider economy. Analysts warn that prices could rise further if Middle Eastern LNG exports remain constrained and competition for global gas supplies intensifies.(Historical earnings: For fiscal 2026 full year (period ended 2026-09-03), Micron reported basic EPS of 75.38, diluted EPS of 74.33, net income of USD 84.969 billion, and revenue of USD 133.188 billion. Consensus expectations: For fiscal 2026 Q4 (event date 2026-09-30), consensus EPS is 32.5625.)