Gas markets are becoming ‘extremely difficult’ to predict. It’s a big problem for Europe this winter
Aerial view of the LNG storage and vaporization vessel “Höegh Esperanza” at the Wilhelmshaven LNG terminal.
Picture Alliance | Picture Alliance | Getty Images
Energy analysts are warning of more gas market volatility and higher prices as Europe races to prepare for another winter heating season.
European gas markets have been constantly fluctuating in recent months, owing to extreme heat, maintenance at gas plants and, most recently, industrial action at major liquefied natural gas (LNG) facilities in Australia.
Workers at U.S. energy giant Chevron’s Gorgon and Wheatstone natural gas projects in Western Australia went on strike last week, after a protracted dispute over pay and job security. Work stoppages of up to 11 hours are scheduled to continue through to Thursday, at which point the action is poised to ramp up to a total strike of two weeks.
At present, no further talks are scheduled to resolve the dispute, exacerbating fears that a prolonged halt to production would squeeze global supplies.
Australia is a major player in the global LNG market — and even though most of its exports are destined for Japan, China and South Korea, disruption from the strikes is likely to result in Asia and Europe competing for LNG from other suppliers.
Gas markets are becoming riskier — gas and LNG prices are increasingly volatile and greatly affected by global factors.
Ana Maria Jaller-Makarewicz
Energy analyst at IEEFA
The front-month gas price at the Dutch Title Transfer Facility (TTF) hub, a European benchmark for natural gas trading, traded 1.4% higher on Tuesday morning at 36.3 euros ($38.91) per megawatt hour. The TTF contract rose to around 43 euros last month amid fears of strike action.
“The fear of an unbalanced gas supply and demand seesaw has dominated markets,” Ana Maria Jaller-Makarewicz, energy analyst at the Institute for Energy Economics and Financial Analysis, a U.S.-based think tank, said in a research note.
She said the combination of lower gas consumption and Europe filling up its storage facilities ahead of schedule had helped to prevent gas prices from skyrocketing to last summer’s extraordinary peak of 340 euros.
However, given the uncertainty over how the situation in Australia will unfold, Jaller-Makarewicz said Europe should brace itself for more volatility and an increase in prices.
“Gas markets are becoming riskier — gas and LNG prices are increasingly volatile and greatly affected by global factors,” Jaller-Makarewicz said.
“The uncertainty of future events that could affect gas supply makes it extremely difficult to predict how the supply and demand could be balanced and how much prices could escalate by. As seen in last year’s events in Europe, the only way that importing countries can mitigate that risk is by reducing their internal consumption,” she added.
‘Very volatile’
The EU reached its target of filling gas storage facilities to a 90% capacity roughly 2 1/2 months ahead of its Nov. 1 deadline. It leaves the bloc in a relatively strong position to cope with the demands of the forthcoming winter heating season.
The latest data compiled by industry group Gas Infrastructure Europe shows that the EU’s overall storage levels are at an average of nearly 94% full.
The International Energy Agency, however, has warned that even full storage sites are “no guarantee” against market conditions through winter.
“Our simulations show that a cold winter, together with a full halt of Russian piped gas supplies to the European Union starting from 1 October 2023, could easily renew price volatility and market tensions,” the global energy watchdog said in its annual gas market report, published July 17.
The IEA’s warning comes as the 27-nation bloc continues to wean itself off Russian fossil fuel exports after the Kremlin’s full-scale invasion of Ukraine. Analysts at political consultancy Eurasia Group fear that “real disruptions” to European markets are possible, including Norwegian winter storm outages and a cut of the remaining Russian gas to Europe.
Christyan Malek, global head of energy strategy and head of EMEA oil and gas equity research at JPMorgan, said the situation in gas markets is “very volatile” and therefore tough to predict.
Malek said European gas markets appear to be pricing in both the buffer of Europe hitting its gas storage target ahead of schedule, and the risk that a particularly cold winter could lead to a “massive upswing” in price by year-end.
“As a house, we’re relatively bearish on gas prices,” Malek told CNBC’s “Street Signs Europe” on Monday.
“We’re at 95% storage by the end of the year, we’re 50% storage by March next year. What does that mean? It means that we’ve got a pretty good buffer,” Malek said, referring to Europe’s filling of its gas storage facilities.
“Now, if it gets really cold in winter … we do have a problem,” he added.
A new floating storage and regasification unit considered crucial to Italy’s energy independence arrived in Tuscany on March 19, 2023. The Golar Tundra project is a key part of Italy’s plan to reduce its reliance on Russian gas following the invasion of Ukraine.
Filippo Monteforte | Afp | Getty Images
While analysts said volatile market conditions are likely to keep traders feeling anxious, some believe the strikes in Australia are the only thing likely to keep prices buoyant in the months ahead.
Kaushal Ramesh, an analyst at Oslo-based Rystad Energy, said volatility returned to gas markets following the start of industrial action at major gas facilities in Australia.
“However, the potential impact of the strikes is likely the only bullish element in the near-term market, given we have now entered the pre-winter shoulder season and other indicators are bearish in both Europe and Asia,” Ramesh said in a research note published Monday.
Despite the warnings, BYD continues introducing new discounts. On Wednesday, BYD’s luxury off-road brand began offering over 50% Huawei’s smart driving tech.
BYD introduces new discounts on smart driving tech
After BYD cut prices again in May, the China Automobile Manufacturers Association (CAMA) warned that the ultra-low prices are “triggering a new round of price war panic.”
Although they didn’t single out BYD, it was pretty obvious. BYD slashed prices across 22 of its vehicles by up to 34%, triggering several automakers to follow suit in China.
BYD’s cheapest EV, the Seagull, typically starts at about $10,000 (66,800 yuan). After the price cuts, the Seagull is listed at under $8,000 (55,800 yuan).
It doesn’t look like China’s EV leader plans to slow down anytime soon. Fang Cheng Bao, BYD’s luxury off-road brand, introduced new discounts on Huawei’s smart driving tech on Wednesday.
The limited-time offer cuts the price of Huawei’s Qiankun Intelligent Driving High-end Function Package to just 12,000 yuan ($1,700).
Buyers who order the smart driving tech in July will save over 50% compared to its typical price of 32,000 yuan ($4,500).
Earlier this year, Fang Chang Bao launched the Tai 3, its most affordable vehicle, starting at 139,800 yuan ($19,300). The Tai 3 is about the size of the Tesla Model Y, but costs about half as much.
The Tai 3 will spearhead a new sub-brand of electric SUVs following the more premium Bao 8 and Bao 5 hybrid SUVs.
BYD’s luxury off-road brand sold 18,903 vehicles last month, up 50% from May and 605% compared to last year. Fang Cheng Bao has now sold over 10,000 vehicles for three consecutive months.
The Chinese EV giant sold 382,585 vehicles in total in June, an increase of 12% from last year. In the first half of the year, BYD’s cumulative sales reached over 2.1 million, a YOY increase of 33%.
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Every year, it seems like there’s a new headline about the world’s lightest electric bike. Each year, engineers manage to shave a few more grams off of an exotically designed frame built with even more exotic materials. And each year, the continuously lower weight is balanced by continuously higher prices – often exorbitantly high. But now Dahon has bucked that trend, offering us an incredibly lightweight electric bike at a price that normal e-bike riders can afford. Meet the Dahon K-Feather.
To put things in perspective, some of the previous lightest electric bicycles have included the 11.8 kg (26 lb) LeMond Prolog at US $4,500, the 11.75 kg (12.59 lb) Trek Domane+ SLR at US $8,999, and the 10 kg (22 lb) Hummingbird Flax folding e-bike at US $6,050.
So with that in mind, please allow me to introduce you to the new Dahon K-Feather. This is a 12 kg (26.5 kg) folding electric bike priced at an incredibly reasonable US $1,199 in North America or €1,499 in Europe.
Sure, it’s not the absolute lightest folding e-bike we’ve ever seen, but it’s 90% of the way there and at a quarter of the price. Plus, it comes from Dahon, which is one of the most respected names in the folding bike world and is largely credited with paving the way for the booming folding bike industry we see today. Since the 1980s, Dahon’s innovative designs have been imitated around the world, yet the folding bike maker has continued to innovate and stay several steps ahead of competing brands.
The K-feather achieves its extra low weight through the combination of a novel frame design employing Dahon’s patented frame designs, including the company’s DELTECH technology and “super down tube,” which help improve rigidity and robustness while reducing weight.
The electrical system on the K-Feather is also a featherweight, keeping the e-bike largely in the last-mile category. While the battery claims a maximum range of up to 24.8 miles (40 km), real-world riding and hilly terrain could reduce that range. Still, clever designs like a system that automatically shuts off the extra motor power when detecting a downhill segment help to eke out more range from the small 24V and 5Ah battery.
The ultra-lightweight 250W hub motor also offers just 32 Nm of torque, meaning the assist is more of a helpful push than a powerful shove. But with the inclusion of a torque sensor for the pedal assist, that push comes on quickly and reliably, making the bike feel more like a traditional analog bike being pedaled by someone with extra strong legs.
With 16″ dual-wall rims and 14g spokes, this isn’t the heavy fat tire folding e-bikes we’re used to in North America, and the capacity reflects that. The K-Feather is rated to support riders weighing up to 105 kg (231 lb), though the highly adjustable seating position can support a range of rider heights from 145 to 190.5 cm (4’9″ to 6’3″).
Coming in six colorways, the Dahon K-feather folding e-bike is now available in the US and has launched for pre-order in Europe, with shipments there expected in September.
I had a bit of a preview of the K-feather on my last trip to China when I was able to visit Dahon’s headquarters and test ride the bike.
I still can’t believe how light it felt, both underneath me and while folding it up and carrying it around. Be on the lookout for that full experience from my trip, coming soon.
Electrek’s Take
The K-Feather represents a compelling milestone not just for Dahon, but for the entire folding e-bike market. By delivering a truly lightweight, compact, and fully electric folder at an impressively affordable price point, Dahon has made minimalist e-mobility more accessible than ever.
It’s not just a bike for die-hard lightweight e-bike connoisseurs; it’s a real-world solution for commuters, travelers, and apartment dwellers who want the freedom of electric assist without the bulk or the sticker shock. If the goal is to get more people on two wheels, the K-Feather might just be one of the most important steps forward yet.
Coming in at less than half the weight of most folding e-bikes, and still a fraction of most lighter-duty folders, the K-Feather’s modest performance makes it a great urban ride for those who favor compact size and light weight. In fact, I think it might be perfect for my mother-in-law, who needs an e-bike to get to and from the train she takes to work, but also needs it to be light enough to carry up to her second-story apartment. Hmmm, perhaps I should have her do a review for us…
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The Honda Prologue remains a top-selling EV in the US, but it’s Acura’s luxury electric SUV that’s been the surprise hit this year.
Honda Prologue sales rise while Acura’s EV surprises
After delivering the first Prologue models last year, Honda’s electric SUV quickly became a hit. In the second half of 2024, it was the second-best-selling electric SUV in the US, trailing only the Tesla Model Y.
Despite limited inventory due to the new 2025 model year change, Honda sold 2,799 Prologues last month. In the first half of the year, Honda has now sold 16,317 Prologue models in the US. In comparison, Toyota sold just over 9,200 units of its electric SUV, the bZ4X, during the same period.
Toyota’s luxury brand, Lexus, sold only 763 RZ models, its sole electric SUV, for a total of 3,779 units in the first half of the year.
Honda Prologue sales have now held steady, averaging over 2,700 units per month, but it’s Acura’s electric SUV that has been quietly gaining ground in the luxury EV space.
With another 1,318 models sold last month, Acura ZDX sales reached 10,355 in the first half of 2025. Acura’s electric SUV is even outpacing the Cadillac Lyriq, which is based on the same Ultium platform.
Sales are significantly higher than the company expected. Earlier this year, Mike Langel, vice president of national sales for Acura, told Automotive News that the company expected to sell around 1,000 ZDX models a month this year.
A significant reason behind the strong demand is the availability of massive discounts, which can reach nearly $30,000 in some states. The luxury electric SUV is more affordable than a Honda CR-V, with monthly leases starting at just $299.
The Honda Prologue is available to lease for as little as $259 per month. The offer is for 36 months with $2,399 due at signing in California and other ZEV states.
With the Trump administration planning to end the $7,500 federal EV tax credit, many of these savings will soon disappear.
If you’re looking to take advantage of the savings while they’re still available, we can help you get started. You can use our links below to find deals on the Honda Prologue and Acura ZDX in your area.
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