European gas prices followed a rise in crude oil due to concerns about continued supply disruptions in the Middle East dominating market sentiment. As the Middle East conflict shows no sign of ending, European gas prices have nearly tripled so far this year. The storage capacity of European gas storage facilities is only 68%, which is below the five-year seasonal average of 84%.

European gas prices followed a rise in crude oil due to concerns about continued supply disruptions in the Middle East dominating market sentiment. As the Middle East conflict shows no sign of ending, European gas prices have nearly tripled so far this year. The storage capacity of European gas storage facilities is only 68%, which is below the five-year seasonal average of 84%.