Between August 7 and 17, prices fluctuated between 55.54 euros/MWh and 62.14 euros/MWh, as the market continued to react to geopolitical developments and the gas supply situation.
As a result, prices continue to be influenced by low European gas storage levels, which stand at approximately 61% of capacity—below the seasonal average of 78%. The pace of storage replenishment remains critical given the cold season, and current inventory levels continue to put pressure on the market.
At the same time, liquefied natural gas (LNG) supplies to Northwestern Europe have recently increased, exceeding the 30-day average by approximately 32%. However, uncertainty regarding transit through the Strait of Hormuz, as well as maintenance work and reduced production in Norway, continue to affect gas availability in the European market.
The market also remains sensitive to geopolitical developments in the Middle East, as well as to attacks on energy infrastructure in Ukraine. At the same time, high temperatures and drought in Europe are supporting gas consumption for power generation and putting additional pressure on the market.
