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Germany can avoid full energy rationing amid Russian gas cuts: Report

Yahoo Finance's Akiko Fujita breaks down the chart of the day on Germany's gas storage levels.

Video Transcript

[AUDIO LOGO]

AKIKO FUJITA: Well, it is time now for our chart of the day. And today, we are taking a look at Germany's desperate scramble to fill its natural gas reserves. We've seen records in prices for natural gas ahead of the winter. That's the spike you see right there. All of this with growing fears that Russia will cut off supply to much of Europe as retaliation for sanctions against the Kremlin.

Now, Germany is among the countries most reliant on Russian gas. But a new report from Eurasia says it can avoid full rationing. The geopolitical research group says this can be achieved largely through policy intervention, including household support.

Germany is currently ahead of its September target. But Eurasia adds, the overall goal of hitting 95% storage capacity by November the 1 will be difficult. They're trying to reach 65% by September 1, so we'll be watching that one closely.