EU enters winter with lowest gas stocks on record

Europe is entering the winter heating season with its natural gas storage at the lowest level on record for this time of year, leaving the bloc without a buffer against a cold snap or supply shock. Storage sites across the EU are well below the typical pre-winter fill, reviving memories of the 2022 energy crisis and raising the risk of fresh price spikes on European gas markets.

Why it matters: Analysts and traders warn the thin cushion heightens vulnerability to any disruption in LNG flows or a colder-than-expected winter, keeping upward pressure on TTF gas prices.