European Gas Prices Surge to 2022 Peaks as Houthi Attacks Prompt U.S. Evacuation Order

European natural‑gas futures climbed sharply to their highest level since 2022, driven by escalating tensions in the Red Sea after a series of Houthi missile strikes on shipping lanes. The U.S. State Department has issued a mandatory evacuation order for American citizens in Yemen and the surrounding region, heightening concerns about supply disruptions.

At 16:00 GMT on 22 October, the benchmark price for European gas rose to 2.769 USD per million British thermal units (MMBtu), up 0.021 USD from the previous close, a 0.75 % increase.

Other key commodities reflected the broader risk‑off mood:

- Gold traded at 4,085.37 USD per ounce, down 55.91 USD or 1.35 %.

- Silver fell to 55.958 USD per ounce, a decline of 1.752 USD or 3.04 %.

- WTI crude oil advanced to 99.69 USD a barrel, up 2.54 USD or 2.61 %.

- Brent crude reached 112.38 USD a barrel, up 3.56 USD or 3.27 %.

- Copper slipped to 6.4165 USD per pound, a drop of 0.1630 USD or 2.48 %.

- Aluminum fell to 3,013.70 USD per metric ton, down 24.80 USD or 0.82 %.

Analysts warn that any escalation in the conflict could further tighten energy supplies and push prices higher, while the U.S. evacuation order underscores the geopolitical risk that is now influencing commodity markets worldwide.