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Market Chatter: EU Shrugs Off Concerns Over Gas Supplies or Storage Levels

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European Union natural gas storage stands at 62% of capacity, though the European Commission insists there is no immediate threat to the bloc's energy supplies, Reuters reported on Thursday, citing the Commission spokesperson Eva Hrncirova.

EU member states are struggling to replenish inventories ahead of the winter heating season. Surging fuel costs, triggered by the Middle East conflict, have priced companies out of the market, deterring them from purchasing and stockpiling gas.

Storage levels lag significantly behind the 74% capacity recorded at this time last year, according to data compiled by Gas Infrastructure Europe.

The European Commission did not immediately reply to' request for comment

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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