European natural gas prices rise to their highest level in nearly four years.

On the 13th local time, the Dutch Title Transfer Facility (TTF) natural gas futures price, the benchmark for European natural gas, broke through 86 euros per megawatt-hour, rising to its highest level since December 2022. Meanwhile, the inventory level of European natural gas storage facilities currently stands at 73.75%, significantly lower than the level for the same period in previous years. Low natural gas inventories mean that Europe's "buffer space for coping with sudden temperature drops or unexpected supply disruptions has narrowed." Weather forecasts show that starting from next weekend, temperatures in northwestern Europe may drop further, driving up "heating demand" and putting greater pressure on already limited natural gas reserves, further intensifying market concerns about winter supply. Against this backdrop, Europe's energy supply pressure this winter will rise significantly.