Europe Likely To Avoid Soaring Natural Gas Prices This Winter

1. Unprecedentedly Low Cushing Stocks Jeopardize Hub Operations- Oil prices have been greatly boosted by crude inventories in Cushing, the delivery point for US WTI futures, falling to 22 million barrels, the lowest level since June 2022, potentially jeopardizing future pipeline transportation. - Accounting for roughly 12 MMbbls of pipeline fill and storage tank bottom stocks, Cushing is left with a mere 10 MMbbls of transportable crude, with 75% of the oil hub’s storage capacity staying empty. - Cushing oil inventories have declined for…