Natural gas prices in Europe have exceeded a multi-year threshold

Gas contracts in Amsterdam have risen by 0.7% to €88.12 per MWh due to concerns over low gas reserves and unstable winter supplies. Investors are worried about gas deliveries from the Persian Gulf following reports of an LNG tanker being shot at near Yemen. Europe is entering winter with the lowest gas storage levels for this time of year at 74.5%, compared to a five-year average of 89.1%. In Germany, gas storage is at 61.0%, while Poland is at 98.9%. Bloomberg Intelligence suggests European gas prices could rise to €102 per MWh, despite milder weather forecasts. The situation remains precarious due to ongoing Middle Eastern conflicts and fluctuating weather models.