27 December 2022 | Other

EU gas storage peaks in December

European underground gas storage (UGS) is more than twice as high as storage withdrawals, which significantly exceeds average values for December. Gas withdrawals from EU inventories dropped, hitting a low for December. With milder weather in many parts of Europe, gas consumption posted a fall and prices plunged. 

83.1% of EU gas storage is now filled, which is in line with 89.94 billion cubic meters of gas (11.55 percentage points higher than the average for this date over the past 5 years). The number of EU countries withdrawing net gas from UGS facilities decreased. 

For this week, the weather in Europe is also looking mild. The temperature in Europe will be above the average of late December in many European countries. Wind power accounts for 20% of the EU’s total electricity this week. 

Company MarketCheese
Period: 10.07.2025 Expectation: 1200 pips
Selling USDJPY during rebound with 142.430 target
Yesterday at 10:33 AM 35
Period: 11.07.2025 Expectation: 220 pips
Heatwaves across Europe and US support gas price recovery from recent lows
Yesterday at 09:27 AM 59
Period: 08.07.2025 Expectation: 1500 pips
EURUSD rally faces potential correction toward 1.165
02 July 2025 64
Period: 09.07.2025 Expectation: 1400 pips
USDCAD declines amid US dollar weakness and improving Canadian trade prospects
02 July 2025 43
Period: 08.07.2025 Expectation: 3000 pips
Buying Bitcoin during consolidation before July growth wave with 110,000 target
01 July 2025 71
Period: 07.07.2025 Expectation: 2000 pips
Renewed tensions between Musk and Trump weigh on Tesla shares
01 July 2025 58
Go to forecasts