Gas Price Jump Seen in Record Europe Stockpiling
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Europe’s utilities are replenishing natural gas reserves at the fastest pace on record, risking a surge in prices as the region’s winter heating season looms.
Inventories in eight European countries were 14 percentage points below the year-earlier level on Aug. 26 after climbing an unprecedented 48 points since April 13, data from Gas Infrastructure Europe show. German day-ahead prices may rise as much as 63 percent to match the record set in February 2012 amid forecasts for lower-than-normal temperatures, according to Tobias Meyer of Gas-Union GmbH, a Frankfurt-based supplier.