European Union enters winter with lowest gas reserves in 13 years as prices rise

Summary

EU gas storage is at just 63 percent in late August, well below normal levels for this time of year, raising concerns among energy traders of winter price spikes. Analysts warn the EU will likely enter winter with reserves significantly below five-year averages, and the European reference gas price has already exceeded 68 euros per megawatt-hour, more than double the start of the year.

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