
European gas reserves sink below normal Bloomberg
Europe's natural gas inventories are particularly low for this time of year, Bloomberg has reported, citing rising demand for air conditioning amid a regional heatwave.
Underground storage sites are currently around 62% full, the outlet stated, while typically reserves reach around 80% by early summer, helping ensure a robust buffer ahead of the winter heating season.
Extreme heat in Asia has also caused fuel shipments to be diverted away from Europe, as buyers worldwide compete for limited supplies. As a result, European natural gas futures have hovered near a two-week high, meaning "the continent needs to pay up to keep supply coming," the outlet wrote.
Despite the trend, the EU may still be able to top up its gas inventories to about 80% by the end of the summer, the outlet quoted a note by Goldman Sachs as saying.
The EU imports nearly 90% of its natural gas, with Russia still accounting for a significant share in the supply despite sanctions.
In May, European Commission President Ursula von der Leyen unveiled a plan to phase out all Russian oil and gas imports by the end of 2027, as part of the EU's REPowerEU roadmap, which aims to eliminate the bloc's dependence on fossil fuels from the country and shift to renewable sources.
The plan has drawn criticism from landlocked Hungary and Slovakia, which have relied heavily on Russia's pipeline gas. Bratislava blocked the EU's 18th sanctions package, targeting Russia's energy and financial sectors, citing risks of shortages and rising prices. Budapest has joined the veto, and is pressuring the block to make concessions related to energy and broader RepowerEU rules.
Moscow has argued that the EU restrictions are self-defeating, causing surging energy prices and weakening the bloc's economy. Since 2022, Germany, the bloc's largest economy, has fallen into recession, while growth across the EU has stalled.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Globe and Mail
5 hours ago
- Globe and Mail
New Buy Rating for SAP SE (0NW4), the Technology Giant
In a report released today, Sven Merkt from Barclays maintained a Buy rating on SAP SE, with a price target of €275.00. The company's shares closed yesterday at €245.83. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. According to TipRanks, Merkt is a 3-star analyst with an average return of 2.2% and a 53.42% success rate. Merkt covers the Technology sector, focusing on stocks such as Temenos, Sage Group plc, and Adyen. Currently, the analyst consensus on SAP SE is a Strong Buy with an average price target of €299.65, which is a 21.89% upside from current levels. In a report released on July 23, Deutsche Bank also maintained a Buy rating on the stock with a €310.00 price target. 0NW4 market cap is currently €287.2B and has a P/E ratio of 44.29. Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of 0NW4 in relation to earlier this year.


Global News
6 hours ago
- Global News
4 people killed, multiple others injured in Russia and Ukraine aerial attacks
Russia and Ukraine traded aerial attacks overnight, resulting in two deaths in each country and many people wounded on both sides, according to officials. On the battlefield, the Russian military said Saturday that it seized the village of Zelenyi Hai in the eastern Donetsk region that Moscow illegally annexed but only partially controls, and the village of Maliivka in the Dnipro region. There was no immediate comment on the claim from Ukrainian officials. Ukraine's southern Dnipro and northeastern Sumy regions came under combined rocket and drone attack, local officials reported. Head of the Dnipro regional administration Serhii Lysak said at least two people had died and five were wounded in the barrage. In the city of Dnipro, a multi-story building and business were damaged during the strike and outside of the city a fire engulfed a shopping center. In Sumy, the military administration said three people were injured. On Saturday, Russian drones hit a central square in the city of Sumy, and damaged the building of the regional administration. Story continues below advertisement Kharkiv sustained an intense aerial bombardment overnight. Ukraine's State Emergency Situations Service said six people were hurt in Kharkiv, including four rescuers who were wounded in a double tap strike — where a second attack targets emergency workers trying to help people wounded in the initial attack. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy According to the daily air force report, in total Russia targeted Ukraine with 208 drones and 27 missiles overnight. It said according to preliminary data, air defense and electronic warfare took down or intercepted 183 drones and 17 missiles but hits from 10 missiles and 25 drones had been recorded in nine locations. Russia's Defense Ministry on Saturday claimed that it successfully struck military facilities in Ukraine that 'manufacture components for missile weapons, as well as produce ammunition and explosives.' The claim could not be independently verified. Ukrainian President Volodymyr Zelenskyy said in an online statement that 'there can be absolutely no silence in response to such strikes, and Ukrainian long-range drones ensure this.' 'Russian military enterprises, Russian logistics, Russian airports must feel that the Russian war has real consequences for them,' Zelenskyy wrote. In Russia, officials said that Ukrainian drones targeted multiple regions overnight. A drone attack on the Rostov region, on the border with Ukraine, killed two people, acting governor Yuri Slyusar reported. In the neighboring Stavropol region, drones hit an unspecified industrial facility, governor Vladimir Vladimirov said on Telegram. He added that the attack sparked a brief fire, but didn't specify where exactly. Vladimirov said cellphone internet in the region was restricted because of the attack — a measure authorities regularly take across the vast country that critics say helps widespread online censorship. Story continues below advertisement An unconfirmed media report said videos posted online by local residents showed that the drones hit the Signal radio plant that makes jamming equipment. The Associated Press was unable to verify the claim. Drones also targeted Moscow, but were shot down, according to Mayor Sergei Sobyanin, and an unspecified industrial facility in the Penza region southeast of the capital, Gov. Oleg Melnichenko said. Russia's Defense Ministry said that its air defenses shot down or intercepted a total of 54 Ukrainian drones, including 24 over the Bryansk region on the border with Ukraine, 12 over the Rostov region, six over the annexed Crimean Peninsula, four over the Azov sea, three over the Black Sea and a few others over the Orlov, Tula and Belgorod regions. In Russia's Ingushetia region in the North Caucasus, a woman and three children were injured after a drone fell on a private house, regional health officials said.


Toronto Sun
6 hours ago
- Toronto Sun
4 people killed, multiple others injured in Russia and Ukraine as they trade aerial attacks
Published Jul 26, 2025 • 3 minute read Rescuers work at a damaged city hospital that was hit by a Russian guided air bomb in Kharkiv, Ukraine, Friday, July 25, 2025. Photo by Andrii Marienko / AP Russia and Ukraine traded aerial attacks overnight, resulting in two deaths in each country and many people wounded on both sides, according to officials. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account On the battlefield, the Russian military said Saturday that it seized the village of Zelenyi Hai in the eastern Donetsk region that Moscow illegally annexed but only partially controls, and the village of Maliivka in the Dnipro region. There was no immediate comment on the claim from Ukrainian officials. Ukraine's southern Dnipro and northeastern Sumy regions came under combined rocket and drone attack, local officials reported. Head of the Dnipro regional administration Serhii Lysak said at least two people had died and five were wounded in the barrage. In the city of Dnipro, a multi-story building and business were damaged during the strike and outside of the city a fire engulfed a shopping center. In Sumy, the military administration said three people were injured. On Saturday, Russian drones hit a central square in the city of Sumy, and damaged the building of the regional administration. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Kharkiv sustained an intense aerial bombardment overnight. Ukraine's State Emergency Situations Service said six people were hurt in Kharkiv, including four rescuers who were wounded in a double tap strike — where a second attack targets emergency workers trying to help people wounded in the initial attack. According to the daily air force report, in total Russia targeted Ukraine with 208 drones and 27 missiles overnight. It said according to preliminary data, air defence and electronic warfare took down or intercepted 183 drones and 17 missiles but hits from 10 missiles and 25 drones had been recorded in nine locations. Russia's Defence Ministry on Saturday claimed that it successfully struck military facilities in Ukraine that 'manufacture components for missile weapons, as well as produce ammunition and explosives.' The claim could not be independently verified. This advertisement has not loaded yet, but your article continues below. Ukrainian President Volodymyr Zelenskyy said in an online statement that 'there can be absolutely no silence in response to such strikes, and Ukrainian long-range drones ensure this.' 'Russian military enterprises, Russian logistics, Russian airports must feel that the Russian war has real consequences for them,' Zelenskyy wrote. In Russia, officials said that Ukrainian drones targeted multiple regions overnight. A drone attack on the Rostov region, on the border with Ukraine, killed two people, acting governor Yuri Slyusar reported. In the neighbouring Stavropol region, drones hit an unspecified industrial facility, governor Vladimir Vladimirov said on Telegram. He added that the attack sparked a brief fire, but didn't specify where exactly. Vladimirov said cellphone internet in the region was restricted because of the attack — a measure authorities regularly take across the vast country that critics say helps widespread online censorship. This advertisement has not loaded yet, but your article continues below. An unconfirmed media report said videos posted online by local residents showed that the drones hit the Signal radio plant that makes jamming equipment. The Associated Press was unable to verify the claim. Drones also targeted Moscow, but were shot down, according to Mayor Sergei Sobyanin, and an unspecified industrial facility in the Penza region southeast of the capital, Gov. Oleg Melnichenko said. Russia's Defense Ministry said that its air defenses shot down or intercepted a total of 54 Ukrainian drones, including 24 over the Bryansk region on the border with Ukraine, 12 over the Rostov region, six over the annexed Crimean Peninsula, four over the Azov sea, three over the Black Sea and a few others over the Orlov, Tula and Belgorod regions. In Russia's Ingushetia region in the North Caucasus, a woman and three children were injured after a drone fell on a private house, regional health officials said. Sunshine Girls Toronto & GTA Columnists Toronto & GTA Toronto Blue Jays