"One Month Until Drawdown": UBS Sounds Alarm On Europe's Thin Gas Buffer As Winter Looms

"One Month Until Drawdown": UBS Sounds Alarm On Europe's Thin Gas Buffer As Winter Looms UBS energy analyst Nayoung Kim warned about a growing vulnerability in Europe's natural gas market on Thursday: with less than a month before seasonal withdrawals begin, storage levels remain well below historical norms for this time of year, leaving the continent with a smaller buffer against winter demand and supply disruptions. Kim wrote that despite optimism this week over improved Hormuz flows (read the Goldman report), which has kept energy prices in check, top LNG exporter Qatar shipped just four cargoes in September, compared with 25 a month before June 2025 and an average of around 30. Force majeure has also been extended into...

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