European natural gas futures climbed toward $47 per barrel, driven by rising demand and mounting supply concerns. For the first time since Russia's 2022 invasion of Ukraine, Europe risks falling short of its gas storage targets for next winter, potentially sparking a global scramble for supplies until new liquefied natural gas (LNG) capacity becomes available in 2026. Cold weather and Russia’s halt of pipeline deliveries through Ukraine have depleted Europe’s inventories, forcing the region to seek up to 10% more LNG imports in 2025. Adding to the pressure, President-elect Donald Trump has threatened tariffs unless Europe increases purchases of US energy. Meanwhile, natural gas prices are also being pushed higher by a surge in oil prices, which have reached their highest levels in over four months following new US sanctions on Russia’s energy industry.
You are viewing a single comment's thread from: