Europe's wholesale gas-price surge could ease despite low EU storage

Chris Giles argues in the Financial Times that Europe's wholesale gas-price surge may ease: EU storage is unusually low by capacity, but closer to its historical average when measured against reduced consumption. He says other producers offset three-quarters of lost Qatar and UAE LNG supply between March and June and points to prospective North American exports. Low stocks still leave Europe vulnerable to a cold snap, and Giles cautions against trusting futures prices.