Analysis: Gas prices surge to avert risk of winter shortages

Gas storage sites in the EU and the EU are currently just under 76% full, compared with a 10-year seasonal average of almost 90%, according to data compiled by Gas Infrastructure Europe.

Europe’s gas and electricity prices are setting record highs on a daily basis and rising at an accelerating rate as the market tries to destroy enough demand to protect depleted inventories ahead of the winter.

Gas storage sites in the EU and the EU are currently just under 76% full, compared with a 10-year seasonal average of almost 90%, according to data compiled by Gas Infrastructure Europe.