INE crude oil futures surpass 740 yuan/barrel, Shanghai fuel oil surpasses 5,100 yuan/ton

According to data from Spain's Natural Gas System Technical Management Agency, about 59.1% of natural gas imports in September were liquefied natural gas. The remaining approximately 40.9% was transported via pipeline. The total natural gas imports for the month reached around 27,900 GWh, compared to about 27,600 GWh in the same period last year, reflecting a slight year-on-year increase. The import structure shows that liquefied natural gas is dominant, while pipeline gas accounts for a relatively lower proportion. At the market level, European storage levels and the pace of liquefied natural gas arrivals continue to be the main variables affecting gas prices. Moving forward, attention should be paid to changes in natural gas demand and inventory levels in Spain and across Europe as a whole.