European Gas Prices Rise on Low Storage Vulnerability
European natural-gas prices increased in early trading due to market vulnerability, stemming from gas storage levels that are below historical averages. EU gas storage is currently just under 73% full, compared to 83% at the same point last year and the five-year average of 88%.
European natural-gas prices rose in early trading as the market remained vulnerable despite a recent recovery in LNG flows from the Persian Gulf. EU gas storage is just shy of 73% full, below 83% at the same point last year and the five-year average of 88%, according to ING. While injections have helped replenish stocks, the market remains sensitive to supply changes.