Global natural gas markets saw a significant divergence on Monday, with European prices climbing to their highest point since December 2022. This surge, occurring alongside a drop in oil prices, is fueled by mounting fears over the upcoming winter and insufficient storage levels. The Dutch TTF gas benchmark rose by 2.17% to 86.19 euros per megawatt-hour. Experts suggest the instability stems from disruptions in LNG exports from the Gulf due to regional conflicts, sparking fierce competition between European and Asian buyers. Across Europe, storage facilities are currently filled to only 73.75% capacity, trailing behind the previous year’s 83% and the five-year average of 89%. Germany is facing a particularly tight situation, with reserves currently at just 59.96%.