Europe Gas at Decade Low

Europe is entering winter with gas inventories at their lowest level since 2013. Storage facilities were no more than 75% full at the end of October, below the European minimum of 80%. The International Energy Agency attributed this to the closure of the Strait of Hormuz since the conflict in the Middle East erupted in late February, already-depleted inventories following last winter, and buyers delaying purchases in anticipation of lower prices.

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