European gas futures rise amid storm threats and supply concerns

European natural gas futures rose toward €41 per megawatt-hour after a 4% increase on Monday, as traders tracked a late-season tropical storm that could impact U.S. production.

European gas futures rise amid storm threats and supply concerns

Storm Rafael, currently forming in the Caribbean and moving toward the Gulf of Mexico, has prompted platform evacuations. Although expected to weaken near Louisiana, it may still pose risks to production. Limited renewable energy output is boosting gas demand, though mild temperatures keep heating needs low, helping balance the market.

High EU gas reserves steady, but geopolitical risks loom

With European gas storage at 95% capacity, supply remains stable; however, ongoing tensions in the Middle East, uncertainties over Russian transit via Ukraine, and production challenges in Norway and the U.S. keep traders on alert.