Europe gas storage falls to 71.25%, lowest seasonal level in years

European underground gas storage levels dropped to 71.25% as of November 11, per GIE data, marking a faster-than-usual seasonal drawdown. This suggests tighter supply conditions heading into winter, potentially increasing price volatility and import demand. The decline is notable as it may reflect colder weather, reduced LNG inflows, or higher industrial consumption, though the specific drivers remain unclear.

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