Europe Gas Stores Sit 54% Full as Iran War and Hormuz Blockade Lift Prices
Updated
Updated · The New York Times · Jul 31
Europe Gas Stores Sit 54% Full as Iran War and Hormuz Blockade Lift Prices
3 articles · Updated · The New York Times · Jul 31
Summary
Europe’s natural-gas storage sites are only 54% full heading into winter stocking season—the second-lowest summer level since 2011 and the lowest for July since 2021.
Nearly five months of war in the Middle East have slowed energy shipments from the Persian Gulf, as continued U.S.-Iran airstrikes and an effective Iranian blockade of the Strait of Hormuz disrupt flows.
Qatar’s damaged energy infrastructure has added to the supply strain, making it harder for Europe to rebuild inventories even without an outright cutoff.
Analysts say the bigger risk is sustained high gas prices for households and businesses rather than immediate shortages, with no clear resolution yet in Hormuz.