European gas prices slump as storage fills faster than planned

In Germany, gas stores are filling up fast and are expected to meet an October target of 85% full already next month

With more gas in storage, European nations are slightly better placed to face a further supply cut as Russia’s Gazprom PJSC starts maintenance on Nord Stream on Wednesday. Picture:Markus Schreiber.

European natural gas prices plunged the most since April after Germany said its gas stores are filling up faster than planned and some traders took home profits after the rally over the recent weeks.

Benchmark Dutch front-month futures fell as much as 16%, partly reversing last week’s jump of almost 40%.