31 March | Gas

Bloomberg warns of challenges awaiting EU in refilling gas storage

Bloomberg warns of challenges awaiting EU in refilling gas storage

Europe is facing a growing need to refill gas storage ahead of the next heating season. Typically, traders play a key role in this process—storing large volumes of fuel and selling them when demand rises. But this year's unusually cold weather and dwindling Russian flows have drained inventories faster than expected. Now, summer prices exceed winter contracts, wiping out the financial incentive to replenish storage, Bloomberg reports.

The big question is how EU governments will step in to boost gas reserves, with the European Commission demanding storage sites to be 90% full by November 1. If inventories remain low by early winter, this could lead to spikes in gas prices, the agency says.

European gas prices currently sit 50% higher than a year ago. Vitol's Russell Hardy stresses that sustaining current price levels is critical for storage replenishment. Any delay could trigger new price swings in the next heating season.

Elena Dorohina MarketCheese
Period: 30.04.2025 Expectation: 12000 pips
ETHUSD set to test upper boundary of downtrend channel
Today at 11:30 AM 22
Period: 25.04.2025 Expectation: 500 pips
AUDUSD to fall to 0.63000
Today at 09:54 AM 14
Period: 28.04.2025 Expectation: 3100 pips
Buyers may retake initiative in USDJPY with target of 146.00
Today at 08:41 AM 14
Period: 02.05.2025 Expectation: 229 pips
Selling natural gas with target of 2.900 amid warm weather in US and Europe
Today at 07:01 AM 13
Period: 02.05.2025 Expectation: 1000 pips
Technical rebound of NVIDIA stock to result in pullback to 95
Yesterday at 11:27 AM 43
Gold sell
Period: 25.04.2025 Expectation: 7000 pips
Gold to correct to level of 3,250
Yesterday at 10:02 AM 98
Go to forecasts