# Europe's gas prices slump to moderate storage build

> European gas prices slumped as mild weather and reduced industrial consumption built inventories unusually fast. EU and UK storage is the second-highest for the time of year in a decade and is on course to finish winter at an exceptionally high level.

- Date: 2023-01-05 · published 2023-01-05T12:00:00.000Z
- Category: weather · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/9184-europe-s-gas-prices-slump-to-moderate-storage-build
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Plentiful European storage reduces the need for LNG imports over the coming months, weakening global LNG demand and natural gas prices. Lower gas costs also ease energy expenses for European feed and fertilizer producers.

## Read by commodity

- NATGAS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2020-10-02 | [Weak demand, elevated storage to pressure US Northeast gas prices \| S&P Global](https://feedsoft.ai/events/9681-weak-demand-elevated-storage-to-pressure-us-northeast-gas-prices-s-and-p-global.md) | -1.6% | +58.1% |
| NATGAS | 2026-01-08 | [Natural Gas Forward Prices Slump as Mother Nature Fails to Impress](https://feedsoft.ai/events/8587-natural-gas-forward-prices-slump-as-mother-nature-fails-to-impress.md) | -5.5% | +30.2% |
| NATGAS | 2022-10-17 | [Europe Gas Prices Drop to 3-Month Low as EU Plans More Crisis Measures - Bloomberg](https://feedsoft.ai/events/12789-europe-gas-prices-drop-to-3-month-low-as-eu-plans-more-crisis-measures-bloomberg.md) | -25.1% | -15.3% |
| NATGAS | 2016-10-31 | [Natural Gas Prices Edge Lower as Traders Weigh Storage Volumes, Demand - WSJ](https://feedsoft.ai/events/9174-natural-gas-prices-edge-lower-as-traders-weigh-storage-volumes-demand-wsj.md) | -15.1% | +0.4% |
| NATGAS | 2016-10-27 | [U.S. gas prices slump as warm weather persists: Kemp](https://feedsoft.ai/events/10114-u-s-gas-prices-slump-as-warm-weather-persists-kemp.md) | -1.9% | +6.6% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/europes-gas-prices-slump-moderate-storage-build-kemp-2023-01-04/

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