30.09.202607:48:58UTC+00European Gas Prices Remain at 1-Month Low

European natural gas prices hovered around €69 per megawatt-hour, hitting a one-month low as traders continued to assess the bloc’s winter supply outlook. While prices were poised for a modest monthly decline, they remained roughly 60% higher over the third quarter. Europe is racing to secure additional supply to rebuild gas inventories ahead of winter, with storage sites about 71% full—well below the five-year seasonal average of 87%—and German facilities just above 57%.

The supply outlook remains especially uncertain as disruptions to LNG shipments, driven by ongoing navigation challenges in the Strait of Hormuz, continue to threaten European imports. QatarEnergy has extended its force majeure on LNG deliveries to Italy’s Edison until December, and Pakistan’s supply arrangements have been prolonged into November as shipping disruptions persist. Still, weaker Chinese LNG demand has helped ease some pressure on the global market, with China’s imports expected to fall for a second consecutive month.