The tense situation in the Persian Gulf boosted European gas for the fourth consecutive trading day, and the market is worried about global supply. The filling rate of European gas storage depots is only 67%, far below the five-year average of 84%. Traders may face fierce competition for gas shipments. Dutch futures rose 2.8% in recent months to 77.98 euros/megawatt-hour. If the close maintains this price, it will set the highest settlement price since December 2022.

The tense situation in the Persian Gulf boosted European gas for the fourth consecutive trading day, and the market is worried about global supply. The filling rate of European gas storage depots is only 67%, far below the five-year average of 84%. Traders may face fierce competition for gas shipments. Dutch futures rose 2.8% in recent months to 77.98 euros/megawatt-hour. If the close maintains this price, it will set the highest settlement price since December 2022.