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Gas Shortage May Deepen
The International Energy Agency warned that tight supply in the global gas market could persist through much of 2027, as Europe’s stocks fall to their lowest level in a decade. EU storage levels could drop below 10% by the end of March if cold weather intensifies and shipping disruptions through the Strait of Hormuz continue. This could fuel fiercer competition with Asia and South America for supplies and add further pressure to prices, which have reached their highest levels since the 2022–2023 crisis. The agency expects global liquefied natural gas (LNG) supplies to fall by about 3%—or nearly 20 billion cubic metres—in 2026 compared with 2025, while demand declines by 1.5%.
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