Europe's gas stocks near 2013 lows
Europe is facing a natural gas stockpiles crisis as winter approaches, with storage facility fillings reaching only 63% at the end of August, the lowest level since 2013 and significantly below the 80% average. This shortfall increases the risks of rising gas prices and market volatility, especially amid ongoing weak Gulf exports and rising demand as temperatures begin to fall. As a result, the benchmark gas price has surged to its highest level in three years, exceeding 68 euros per megawatt-hour. Concerns are mounting in countries like Germany, which has stored half of its reserves, and the United Kingdom, where gas production is declining, prompting the government to prepare financial support to ensure supply security during the winter.
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