Monday, October 5, 2020

Platts: "4 Commodity Charts To Watch This Week"

From S&P Global Platts:
...2. Europe well placed for gas supplies over winter…
What’s happening? With EU gas storages at around 95% full, Europe is again well placed to manage the upcoming winter from a security of supply perspective. Stocks have been built to almost capacity for the second consecutive year, the difference this time being that the risk of disruption to Russian imports via Ukraine is absent.

What’s next? With stocks almost full at the start of the new gas year, there is limited scope for further EU storage injections in the event of a warm October, and injection season in Ukraine – which has acted this summer as an “overflow” for European storage – also seems to have effectively finished. A ramp-up in gas supplies to Europe and warm weather could put pressure on the market....