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EU NatGas Hits Highest Since 2022 As Low Storage Sets Stage For Winter Cold-Snap Price Shock

EU NatGas Hits Highest Since 2022 As Low Storage Sets Stage For Winter Cold-Snap Price Shock European natural gas futures hit their highest level since December 2022 (early days of the Russia-Ukraine conflict) as domestic supplies remain well below the 15-year average. With the Northern Hemisphere winter approaching, the restocking phase may be jeopardized by maritime chokepoint madness across the Gulf and Red Sea, with the Strait of Hormuz and Bab al-Mandab Strait under threat. Dutch benchmark futures jumped as much as 5.3% to 83.67 euros a megawatt-hour early Monday. Prices have...
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