(10 November 2021) A mismatch between natural gas demand and supply in Europe has pushed natural gas spot prices to record highs. In this dashboard we put together data on four key short-term indicators that will shape natural gas prices in Europe this winter: air temperature; wind speed in the North Sea; volume of natural gas in storage; and industrial production.

  • Air temperature determines how much energy is needed to heat/cool down homes and buildings in winter/summer.
  • Wind speed in the North Sea determines the amount of electricity generated by wind turbines.
  • Volume of natural gas in storage shows current availability of natural gas in inventories.
  • Industrial production indicates changes in demand for energy in the real sector.

Download our latest ENERGY Data Brief

The Energy Data Brief offers key statistics designed to help energy market watchers anticipate and respond to developments in the energy sector as well as changes in related industries and investments.

Related Insights from Knoema

Economic Recovery in Europe Stumbled on Natural Gas Shortage

(October 6, 2021) The energy crisis in Europe is intensifying, in part because the long and cold 2020-2021 winter depleted the volume of natural gas available in gas storage capacities. The latest natural gas storage data from the Aggregated Gas Storage Inventory shows that only 75% of gas storage capacities were full as of October 4th, compared to an October average of over 90% for 2016-2020. The low level of gas reserves in Europe has already led to a six-fold increase in natural gas spot prices compared to the beginning of 2021. Wholesale electricity prices in Europe in 2021 are...

Natural Gas Price Forecast: 2021, 2022 and Long Term to 2050

(15 June 2021) The US natural gas spot price at Henry Hub, Louisiana — the benchmark price reference for the US natural gas market and an important price reference in global gas trading — will average $3.07 per million British thermal units (MMBtu) in 2021, a 51% increase from the 2020 average, according to the U.S. Energy Information Administration (EIA). The agency attributes this year's price growth to rising liquefied natural gas (LNG) exports and increasing domestic natural gas consumption outside of the power sector. In 2022, Henry Hub prices are expected to decrease to...

Renewable Energy

(October 2016) - Renewable energy resources have increasingly become mainstream energy soures worldwide, catapulted by new capacity in developing countries. Depending on the source, renewable energy has or is poised to surpass coal to become the world's largest source of electrical power capacity. The International Energy Agency (IEA) in its most recent medium-term renewable market report said that this transition occurred during 2015, while according to the latest energy outlook by the US Energy Information Administration (EIA) the transition will be completed in 2016. The IEA...

OPEC Crude Oil Prices

Oil producers market more than 160 unique crude oils today, each varying from light to heavy, with different sulfur levels and other chemical attributes that affect price and market. Only a few individual crudes—particularly Brent and West Texas Intermediate (WTI)—serve as industry benchmarks. The OPEC Reference Basket (ORB) is another common benchmark. The ORB represents a weighted average of prices for the petroleum blends produced by the 14 member states of the Organization of the Petroleum Exporting Countries (OPEC). The members are: Algeria, Angola, Ecuador, Equatorial Guinea,...