EU urges lower gas storage target amid war-driven price surge

EU urges lower gas storage target amid war-driven price surge The European Commission has called on member states to ease gas storage targets, warning that the Israeli-US war in the Middle East is fuelling price volatility across energy markets. In a letter sent on Saturday, EU energy commissioner Dan Jorgensen asked governments to "consider reducing your filling target to 80 percent as early as possible in the filling season to provide certainty and reassurance to market participants", lowering the usual 90 percent benchmark. Brussels appears to be moving to calm markets as supply fears intensify.