LNG Supply Risks Send European Gas Prices Soaring
European natural gas prices have surged to their highest level since January 2023, exceeding €65/MWh amid concerns over global LNG supply disruptions.
The Middle East conflict has affected around one-fifth of global LNG flows, hindering Europe's summer stockpiling efforts.
EU gas storage levels are at 63% capacity, the lowest seasonal level since 2009, falling short of historical averages.