Daily Energy Report
EU Gas storage high, Libyan oil output & crude exports, Oil price volatility, BP’s identity crisis, LNG’s long-term viability, Big Oil favor’s Biden climate law, and more.
News of the Day: EU Gas Storage Near Record High
Summary
Figure (1) shows trends on EU gas storage since the beginning of 2021. The invasion of Ukraine, the Russian cut in supplies to sone European countries, and the will of some European countries not to import Russian gas changed the market structure. One of the main changes is the need for more gas in storage. We have seen record storage levels in 2023 and this year. This high level of storage of 94.37% on September 30 limited the gains in TTF prices.