# Europe's record gas stocks start to pressure prices | Reuters

> European gas stocks are at record levels and futures and calendar spreads remain strong despite the surplus. Strong spreads are discouraging industrial gas use from resuming and encouraging continued LNG imports.

- Date: 2023-11-07 · published 2023-11-07T12:00:00.000Z
- Category: macro · region Europe · magnitude low
- Page: https://feedsoft.ai/events/6392-europe-s-record-gas-stocks-start-to-pressure-prices-reuters
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Record storage is pressuring prices, but firm spreads signal continued import demand that keeps LNG markets supported, a mixed signal for energy costs feeding into feed production.

## Read by commodity

- NATGAS: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2020-10-05 | [Natural Gas Price Benchmarks \| European Gas Hub](https://feedsoft.ai/events/50807-natural-gas-price-benchmarks-european-gas-hub.md) | +33.9% | +71.9% |
| NATGAS | 2024-04-26 | [Equinor Expects Asia, LNG Competition to Drive European Natural Gas Prices](https://feedsoft.ai/events/30924-equinor-expects-asia-lng-competition-to-drive-european-natural-gas-prices.md) | +18.9% | +71.3% |
| NATGAS | 2019-09-18 | [This Autumn May Bring More Volatility for Europe’s Gas Market](https://feedsoft.ai/events/57257-this-autumn-may-bring-more-volatility-for-europe-s-gas-market.md) | -5.9% | -13.8% |
| NATGAS | 2020-05-15 | [When Natural Gas Prices Converge](https://feedsoft.ai/events/53322-when-natural-gas-prices-converge.md) | +5.5% | +3.7% |
| NATGAS | 2024-03-28 | [US gas prices to be increasingly linked to international markets through LNG](https://feedsoft.ai/events/31397-us-gas-prices-to-be-increasingly-linked-to-international-markets-through-lng.md) | +13.4% | -1.3% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/europes-record-gas-stocks-start-pressure-prices-kemp-2023-11-07/

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