According to CoinMeta, Fatih Birol, the Director-General of the International Energy Agency, stated that Europe is entering winter with natural gas reserves at their lowest level in history and is unable to withstand further supply shocks. He pointed out that Europe has a high dependence on fuels from the Middle East, especially during the period when the United States and Israel waged war against Iran, which led to the closure of the Strait of Hormuz, causing severe impacts on Europe. Birol warned that Europe's situation will not improve this year or next, and if there is a harsh winter, natural gas prices could rise.