Affected by the continuing escalation of the Middle East conflict, European gas prices are experiencing the longest continuous daily rise in eight years. Qatar is preparing to extend the LNG force majeure clause until mid-October; European benchmark natural gas futures have risen nearly 47% so far this month. The current storage capacity of European gas storage depots is only 54%, and liquefied natural gas imports have continued to decline since April — Europe has to contend with Asia for limited supply of liquefied natural gas.

Affected by the continuing escalation of the Middle East conflict, European gas prices are experiencing the longest continuous daily rise in eight years. Qatar is preparing to extend the LNG force majeure clause until mid-October; European benchmark natural gas futures have risen nearly 47% so far this month. The current storage capacity of European gas storage depots is only 54%, and liquefied natural gas imports have continued to decline since April — Europe has to contend with Asia for limited supply of liquefied natural gas.