‘Winter panic’: EU gas stores at their lowest level in 13 years

Europe faces a critical energy shortfall this winter, with gas storage levels plunging to their lowest in over a decade, sparking alarm among traders and analysts. Current reserves stand at just 63% capacity—far below the typical late-August average—raising concerns over supply stability as temperatures drop. The situation puts the UK, one of the continent’s largest gas consumers, at heightened risk of price swings and potential shortages. Experts warn the unprecedented storage deficit could deepen market uncertainty ahead of the colder months.

As one of Europe’s biggest consumers of gas the UK may be particularly exposed to heightened price volatilityEurope is on course to enter the cooler months with gas stores at their lowest level in 13 years, which has triggered “winter panic” among energy traders, experts have warned.The EU’s gas stocks were 63% full in the last week of August, well below the 80% average for late August over recent years and among the lowest levels ever recorded for this time of year. Continue reading...