European energy markets have been relatively quiet the past several weeks, at the same time the continent is enjoying an unusually warm fall. With natural gas prices down almost 70% from their August peak and storage capacity throughout the EU nearly maxed out, is the worst of the crisis behind us? As Real Vision Senior Markets Editor Andreas Steno Larsen sees it, this is only the beginning. As he recently tweeted, “The bottom is close to being in” for natural gas. In conversation with Maggie Lake, Andreas assesses recent data on natural gas storage, flows, and consumption patterns in Europe and reaches a stark conclusion: Markets are now too complacent. Recorded on October 31, 2022.