# European Gas Prices Fall on Hopes for Middle East Diplomacy

> European natural gas prices fell to €102.5/MWh on Monday as Middle East diplomacy eased escalation fears. Rubio said diplomatic contacts with Iran remained active, and Iran and Qatar held talks in Doha. Europe's gas storage was 74.62% full as of November 1, which is historically low.

- Date: 2026-11-02 · published 2026-11-02T06:08:17.508Z
- Category: geopolitics · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/74907-european-gas-prices-fall-on-hopes-for-middle-east-diplomacy
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Diplomatic progress reduces the geopolitical risk premium on LNG supply from the Gulf. Low storage ahead of winter still keeps upside price risk elevated.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2026-08-31 | [European gas prices spike above €70 amid renewed Middle East fighting \| Euronews](https://feedsoft.ai/events/18059-european-gas-prices-spike-above-70-amid-renewed-middle-east-fighting-euronews.md) | +3.3% | +7.4% |
| NATGAS | 2026-03-03 | [Natural gas, LNG prices soar on Middle East supply fears](https://feedsoft.ai/events/20365-natural-gas-lng-prices-soar-on-middle-east-supply-fears.md) | +7.0% | -3.1% |
| NATGAS | 2026-09-09 | [European Natural Gas Prices Surge as Middle East Attacks Choke LNG Shipments - WSJ](https://feedsoft.ai/events/17648-european-natural-gas-prices-surge-as-middle-east-attacks-choke-lng-shipments-wsj.md) | +1.3% | +5.6% |
| NATGAS | 2020-01-01 | [European Gas Prices Fall as Ukraine, Russia Deal Averts Crisis](https://feedsoft.ai/events/55767-european-gas-prices-fall-as-ukraine-russia-deal-averts-crisis.md) | -1.1% | -11.9% |
| NATGAS | 2026-10-01 | [Will European Gas Prices Keep Rising This Winter?](https://feedsoft.ai/events/17649-will-european-gas-prices-keep-rising-this-winter.md) | +5.2% | -7.8% |

## Sources

- tradingeconomics.com: https://tradingeconomics.com/commodity/eu-natural-gas/news/597088

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.