Europe Taps Record-High Natural Gas Storage As Temperatures Drop

Traders have begun withdrawing natural gas from Europe’s record-high inventories this week as the weather turned colder and heating demand rose. The gas storage sites in the EU were 99.57% full as of November 8, according to data from Gas Infrastructure Europe. In the past few days, most EU countries have made consecutive small net withdrawals of gas from their storage, the data showed. These were the first consecutive net withdrawals from Europe’s gas storage since April—the end of the previous winter heating season.   Withdrawals…