As the heating season approaches, traders set out to replenish depleted gas storage tanks, and European gas prices are close to their highest level since 2022. The overall filling rate of European gas storage facilities is about 68%, and the filling rate of German gas storage depots is only 56%, boosting gas prices next year. Due to ongoing supply disruptions in the Middle East compounded by historically low European gas storage levels, there is a risk that European gas prices will approach 100 Euro/MWH this winter.

As the heating season approaches, traders set out to replenish depleted gas storage tanks, and European gas prices are close to their highest level since 2022. The overall filling rate of European gas storage facilities is about 68%, and the filling rate of German gas storage depots is only 56%, boosting gas prices next year. Due to ongoing supply disruptions in the Middle East compounded by historically low European gas storage levels, there is a risk that European gas prices will approach 100 Euro/MWH this winter.