Commodities
Europe's Natural Gas Prices Ease but Ongoing Supply Risks Persist
European natural gas prices have eased slightly after reaching a three-and-a-half-year high in July, but concerns over global LNG supply remain elevated.
Prices currently stand at €58/MWh, which is about 9% lower than the €63.7/MWh reached on July 24. However, they are still nearly 70% higher than levels seen at the same time last year.
The conflict in the Middle East has disrupted around one-fifth of global LNG flows, hindering Europe's summer stockpiling efforts. As a result, EU gas storage is currently only 57% full, the lowest seasonal level since 2009.