欧洲天然气期货徘徊在每兆瓦时32欧元附近，回到最近的交易区间，因为投资者在强劲的储存水平与供应紧张和需求上升的迹象之间取得了平衡。最近几天，运往欧洲的液化天然气运输速度放缓，而挪威的管道流量因维护工作而下降，重新引发了人们对短期供应稳定性的担忧。在温和的一段时间后，欧洲西北部的气温预计会下降，这可能会增加供暖需求。欧洲大陆的天然气储量仍然强劲，约为83%，其中意大利为94.7%，法国为92.7%，德国为75.2%。然而，随着供暖季节的开始，一些国家已经开始从储备中提款。贸易商对全球流动的潜在中断或液化天然气货物竞争的复苏仍持谨慎态度。与此同时，乌克兰今年冬天将更加依赖欧盟进口，此前其天然气产能因俄罗斯袭击而损失了约60%。

European natural gas futures hovered near €32 per megawatt-hour, returning to their recent trading range as investors balanced strong storage levels against signs of tightening supply and rising demand. Shipments of liquefied natural gas to Europe have slowed in recent days, while Norwegian pipeline flows have dipped due to maintenance work, reviving concerns about short-term supply stability. Temperatures across northwest Europe are expected to fall after a mild spell, likely increasing heating demand. The continent’s gas storage remains robust at roughly 83% capacity, with Italy at 94.7%, France at 92.7%, and Germany at 75.2%. However, some nations have already begun drawing from reserves as the heating season begins. Traders remain cautious about potential disruptions to global flows or a resurgence in competition for LNG cargoes. At the same time, Ukraine will rely more heavily on EU imports this winter, after losing about 60% of its gas production capacity to Russian attacks.