# FEATURE: All eyes on Europe's tight gas market going into Q3 | S&P Global

> European prompt gas prices surged above EUR30/MWh in June as storage stocks were very low, Russian flows via Ukraine were constrained and Asia competed for LNG cargoes. Storage was only 47% full as of June 27, versus 80% a year earlier.

- Date: 2021-06-30 · published 2021-06-30T12:00:00.000Z
- Category: geopolitics · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/46766-feature-all-eyes-on-europe-s-tight-gas-market-going-into-q3-s-and-p-global
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Europe's tight gas balance and weak storage injections keep energy costs high for European processing and fertilizer production, supporting European energy-linked prices.

## Read by commodity

- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2026-07-29 | [Natural gas: Europe faces tighter winter balance – ING — Octa](https://feedsoft.ai/events/18541-natural-gas-europe-faces-tighter-winter-balance-ing-octa.md) | +2.1% | +3.0% |
| NATGAS | 2022-10-03 | [Natural gas markets expected to remain tight into 2023 as Russia further reduces supplies to Europe - IEA](https://feedsoft.ai/events/39300-natural-gas-markets-expected-to-remain-tight-into-2023-as-russia-further.md) | -1.3% | -18.8% |
| NATGAS | 2023-02-14 | [Global risks to the EU natural gas market](https://feedsoft.ai/events/37517-global-risks-to-the-eu-natural-gas-market.md) | -13.1% | +8.2% |
| NATGAS | 2024-12-30 | [Global Natural Gas Prices Mixed as Market Tracks Tightening Supplies — LNG Recap](https://feedsoft.ai/events/27150-global-natural-gas-prices-mixed-as-market-tracks-tightening-supplies-lng-recap.md) | +20.6% | +7.4% |
| NATGAS | 2022-03-01 | [Europe's gas supply concerns, high prices put New England forward market at risk \| S&P Global](https://feedsoft.ai/events/42450-europe-s-gas-supply-concerns-high-prices-put-new-england-forward-market-at-risk.md) | +10.2% | +24.4% |

## Sources

- spglobal.com: https://www.spglobal.com/energy/en/news-research/latest-news/electric-power/070121-feature-all-eyes-on-europes-tight-gas-market-going-into-q3

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.