European gas rose to its highest level since December 2022 as benchmark Dutch
TTF futures gained 1.7% to €85.82/MWh. An ING analyst said: "The market is
pricing in the possibility that LNG supplies from the Persian Gulf will be very
limited for much of the Northern Hemisphere winter." EU gas storage stands at
73%, below the five‑year average of 89%. Low inventories plus mandatory
replenishment obligations are supporting prices, intensifying competition
between European and Asian buyers and raising the risk of a sharp winter price
spike.
