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EU Warns of Gas Price Spike Over Summer

Bloomberg Markets •
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The European Union's energy chief has urged member states to begin filling gas storage early this year to prevent supply competition that could drive prices higher over the summer. The warning comes as the bloc works to mitigate economic fallout from the ongoing conflict with Iran. Early storage filling has become a priority to ensure energy security.

Energy officials warn that delayed storage could create a bottleneck effect when countries rush to secure supplies simultaneously. This competition typically occurs in late summer but may intensify if nations wait until then to begin stockpiling. The EU is trying to avoid repeating last year's energy crisis patterns.

The directive reflects growing concerns about energy market volatility and the need for coordinated action among EU members. By spreading out storage purchases over a longer period, officials hope to maintain more stable prices and ensure adequate supplies for the coming winter. This proactive approach aims to prevent the price spikes that occurred when multiple nations competed for limited gas resources.