CroatiaEuropean gas storage levels have reached their lowest point in 13 years, prompting concerns among energy traders. As of late July, EU gas reserves stood at 63% capacity, significantly below the average of 80% typically seen by the end of summer and among the lowest recorded for this time of year. Analysts warn that these low levels could lead to increased price volatility during the winter months, especially if cold weather or reduced wind conditions increase demand. The ongoing conflict between Israel and Iran has disrupted supply from the Persian Gulf region, further complicating efforts to replenish reserves. While there is no expectation of a physical shortage, traders anticipate higher prices, with benchmark prices already reaching three-year highs above €68 per MWh. Some analysts predict prices could rise above €100/MWh if supply remains constrained. Western European countries, particularly Germany, face heightened concerns due to lower storage levels compared to nations like Italy and Poland.
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