Our daily trip ‘round the world

🛢️ European natural gas prices are now ~70% lower than record-highs set in August. The price decline is widely attributed to milder weather combined with Europe’s buying spree over the summer, as the continent filled up its natural gas stockpiles to nearly 94% capacity (up from less than 80% a year ago). But Europeans shouldn’t rejoice just yet – stored gas on its own is only enough to cover 2-3 months of supply, and prices are projected to climb back near record highs by February.

🇷🇺 WNBA star Brittney Griner lost her appeal of a nine-year prison sentence in Russia yesterday. Griner, who plays offseason basketball in Russia, was arrested in February after authorities found vape cartridges containing cannabis oil in her luggage. She was ordered to a Russian penal colony yesterday to serve out the remaining eight years of her sentence, though another appeal is possible. In a statement, the White House said Griner is being “wrongfully detained,” calling yesterday’s ruling “another sham judicial proceeding.”

🇨🇳📉 US-listed Chinese stocks lost ~$75 billion in value on Monday, reaching their lowest level in 10 years. Monday was the first trading day following the conclusion of China’s twice-per-decade National Congress, where President Xi Jinping was handed a precedent-defying third five-year term as leader. Xi also removed his government’s No. 2- and No. 4-ranked leaders, replacing them with loyalists. Separately, China reported delayed GDP numbers for Q3 on Monday.