Moderating prices and favorable storage data do not tell the whole story of Europe’s natural gas status heading into winter, International Energy Agency (EIA) Executive Director Fatih Birol said, citing Russia and fallout from its protracted war in Ukraine.

Following recent meetings with European leaders – including Czech Prime Minister Petr Fiala, Finnish Prime Minister Sanna Marin and Slovak Prime Minister Eduard Heger – Birol noted more than 90% of natural gas storage was full in Europe, according to a readout from the meetings provided by IEA this week. Prices in Europe this month recently fell to their lowest level since June amid benign fall weather and increased confidence in storage levels.

Birol said the European Union (EU) was in satisfactory shape heading toward...