Natural Gas Prices in Europe Exceed 95 Euros, Storage Fill Rate at 71%

Natural gas prices in Europe exceeding 95 Euros and storage fill rates remaining at 71% could heighten concerns about energy costs and weigh on global risk appetite. While high gas prices raise the risk of stagflation in Europe through industrial production and inflation, this situation could lead to selling pressure in global equity markets. In Turkey, due to its energy-importing structure, upside risks on the current account deficit and inflation may have a negative short-term impact on TL assets. However, the news's direct effect on Turkish markets may remain limited; nevertheless, a deterioration in overall risk perception could increase volatility in the BIST and bond yields.

European natural gas prices have crossed the €95 mark while storage levels remain at 71%, indicating a tightening supply that could exert short‑term upward pressure. However, the NATGAS index has shown a modest decline over the past 24 hours, with an RSI hovering around 40 and prices trading below both the 20‑period and 50‑period simple moving averages, signalling a weak technical stance. The MACD line lies below its signal line and momentum is negative. Although the news may act as a positive catalyst, the technical indicators do not yet signal a reversal. Consequently, the impact is expected to be limited, with a cautious, modest upward trend anticipated.