European Gas Prices Remain at 1-Month Low

European natural gas prices hovered around €69 per megawatt-hour, a one-month low, with traders continuing to monitor the bloc’s winter supply outlook. Prices were on track for a modest monthly decline but were up about 60% in the third quarter. Europe is scrambling for supply to replenish gas reserves ahead of winter, with storage facilities around 71% full, well below the five-year seasonal average of 87%, while Germany’s sites were just above 57%. The supply outlook remains particularly uncertain as disruptions to LNG shipments linked to difficulties navigating the Strait of Hormuz continue to pose risks to European imports. QatarEnergy has extended force majeure on LNG supplies to Italy’s Edison until December, while Pakistan’s supply arrangements have been extended into November as shipping disruptions persist. However, softer Chinese LNG demand has eased some pressure on the global market, with imports set to decline for a second consecutive month.

EU Gas decreased to 68.61 EUR/MWh, the lowest since August 2026. Over the past 4 weeks, Natural Gas EU lost 1.46%, and in the last 12 months, it increased 119.01%.

European natural gas prices fell below €69 per megawatt-hour, the lowest in a month, as weaker Chinese demand eased pressure on a tight global market. China’s LNG imports are expected to decline for a second consecutive month, with September deliveries forecast at about 5.3 million tons, roughly 8% below a year earlier, as high prices linked to the Middle East conflict discourage spot purchases. Meanwhile, Europe faces increasing pressure to rebuild unusually low gas inventories before winter, particularly as around a fifth of global LNG normally transits the Strait of Hormuz. EU storage facilities are about 71% full, well below the five-year seasonal average of 87%, while Germany’s sites are just above 57%. The EU has urged countries to conserve energy and continue filling storage. QatarEnergy extended its force majeure on LNG supplies to Italy’s Edison until December, while Pakistan’s supply arrangements have been extended into November amid shipping difficulties through Hormuz.