November gas futures rose 4.7% on Wednesday following the order and reports of tanker hits in the Strait of Hormuz. Supply pressures are mounting as EDF halted the Paluel 1 nuclear plant in France and reduced Flamanville 2's output from 1,330 MW to 300 MW. While storage bookings sit at 84%, INES chief Sebastian Heinermann noted that these do not ensure full capacity because traders may divert gas to higher-priced markets.
Wednesday, October 21, 2026
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November Gas Futures Jump 4.7% on Record Low German Gas Storage
Commodities21 days ago
German gas storage fell to 57.7% on Sept. 29, the lowest level recorded for that date. In response to the deficiency and ongoing geopolitical risks, the government ordered state-owned SEFE to buy and inject 8 TWh of natural gas into reserves by Dec. 15. This inventory gap leaves Germany well below the European Union's average storage level of 71.3%.
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