Energy consultancy Wood Mackenzie has warned that storage sites across the continent are just above 50 per cent full, which is a very low level for this time of year.

Europe will face the next winter with alarmingly low energy supplies and heating oil inventories. Global markets for liquefied natural gas and diesel have been severely strained…

European natural gas prices fell sharply after signs of U.S.-Iran de-escalation eased immediate supply concerns, though Europe's low gas storage levels continue to pose risks…