# Natural gas: Winter volatility risk builds with tight EU storage – ING

> ING analysts say TTF rose more than 6% on Friday to near 104 euros per MWh on colder-than-usual Northwest European weather. EU storage peaked just below 75% and is declining, and the analysts expect high volatility through winter.

- Date: 2026-11-02 · published 2026-11-03T00:08:20.031Z
- Category: weather · region Europe · magnitude low
- Page: https://feedsoft.ai/events/76399-natural-gas-winter-volatility-risk-builds-with-tight-eu-storage-ing
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Cold weather and tight storage raise the risk of further gas price spikes. Higher gas costs feed through to European fertilizer production, which supports nitrogen prices.

## Read by commodity

- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2026-02-12 | [Winter’s Worst Widens East Region Natural Gas Storage Deficit](https://feedsoft.ai/events/20800-winter-s-worst-widens-east-region-natural-gas-storage-deficit.md) | -5.0% | +1.5% |
| NATGAS | 2018-11-05 | [Natural Gas ETFs Burning Up in Anticipation of Winter Cold](https://feedsoft.ai/events/6490-natural-gas-etfs-burning-up-in-anticipation-of-winter-cold.md) | +14.0% | +33.5% |
| NATGAS | 2016-11-02 | [Why natural gas supply will be crucial in preventing winter power outages \| Utility Dive](https://feedsoft.ai/events/9179-why-natural-gas-supply-will-be-crucial-in-preventing-winter-power-outages.md) | -8.4% | +16.8% |
| NATGAS | 2022-12-08 | [European Natural Gas Prices Surge as Winter Blast Stokes Demand](https://feedsoft.ai/events/11510-european-natural-gas-prices-surge-as-winter-blast-stokes-demand.md) | +27.9% | -29.6% |
| NATGAS | 2018-11-13 | [Henry Hub Tops $4/MMBtu as Natural Gas Markets React to Early Winter Cold, Lean Storage](https://feedsoft.ai/events/9433-henry-hub-tops-4-mmbtu-as-natural-gas-markets-react-to-early-winter-cold-lean.md) | +20.7% | +15.4% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/natural-gas-winter-volatility-risk-builds-with-tight-eu-storage-ing-202611021420

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