Affected by concerns about Europe's fragile balance between supply and demand this winter, European gas prices topped 97 euros per megawatt-hour, for the first time since 2022. Global gas supply is tight, and temperatures in mainland Europe are about to drop. Traders expect heating demand to rise in the next few days. The EU gas storage capacity is about 75%, the lowest level for the same period since records began in 2009, and Europe is vulnerable to supply disruptions.

Affected by concerns about Europe's fragile balance between supply and demand this winter, European gas prices topped 97 euros per megawatt-hour, for the first time since 2022. Global gas supply is tight, and temperatures in mainland Europe are about to drop. Traders expect heating demand to rise in the next few days. The EU gas storage capacity is about 75%, the lowest level for the same period since records began in 2009, and Europe is vulnerable to supply disruptions.