Natural gas storage levels are at their lowest since 2021, with only 55% capacity filled, while diesel inventories have also reached multi-year lows due to disruptions in Middle Eastern supply routes and export bans from major producers like Russia. The region’s shift from Russian pipeline gas to liquefied natural gas (LNG) has complicated its energy dynamics, leading to increased competition in a global market. As benchmark gas prices surge above €60 per megawatt hour, Europe risks facing a severe energy crisis if winter demand exceeds supply capabilities.