European natural gas storage levels have fallen to a historic low, with underground facilities holding just 54% of capacity as of late July.
The figure is significantly below seasonal norms for this time of year, according to a report from energy consultants Wood Mackenzie.
The data underscores a tightening supply picture that has market participants concerned about the region's ability to weather a severe winter.
The widening gap between current stocks and historical averages has kept pressure on European gas benchmarks.
TTF front-month prices have remained volatile, reflecting the market's sensitivity to any further deterioration in storage fills.
With the heating season approaching, the low fill rate limits the buffer available to absorb demand spikes or supply disruptions.