Supply Concerns Weigh on Europe's Gas Market Despite Ample Storage

The European gas market is currently facing supply concerns despite ample inventories ahead of winter. The Dutch TTF contract is trading higher and has seen an increase on a weekly and monthly basis. Annual maintenance in Norway and fears of disruption in Russian gas flows via Ukraine are contributing to the rise in prices. However, EU storage levels are almost full, which limits further increases. Weather patterns and storage drawdowns will be closely monitored going forward.