The market is worried that the Middle East conflict will continue to squeeze global gas supply, and European gas prices are expected to rise four times a week. Benchmark futures traded around €92 per megawatt hour, a record high since the end of 2022, and crude oil contracts rose at the same time. The filling rate of European gas storage facilities is about 75%, lower than the five-year average of 89%, while Germany's gas storage rate is only slightly higher than 61%.

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