EUROPE GAS - Prices trade down but geopolitical and storage concerns remain
The Dutch and British wholesale gas price were not much different on Wednesday morning, but the market will likely remain choppy due to geopolitical tensions and low storage levels.
LSEG data shows that the benchmark Dutch front-month contract for the TTF hub fell by 0.30 euros to 34.80 Euro per megawatt hour at 0841 GMT.
The price of the?day-ahead contracts increased by 0.15 euros to 36.00 Euro/MWh.
The front-month contract for gas in?Britain was 0.67 pence higher at 92.07 cents per therm.
The price of LNG has fluctuated a lot this week due to low storage levels and weakened flows.
Prices fell on Monday, but then rose on Tuesday.
Gas traders said that prices today will remain volatile due to the rhetoric about Greenland, tariffs and storage.
The temperature is likely to rise tomorrow, and wind power production will continue until the weekend. This could reduce demand.
LSEG data revealed that a second cold snap is expected next week, and the wind output will fall at least until the weekend.
The supply is stable.
The benchmark contract on the European carbon markets was down by 0.10 euros at 81.86 euro per metric tonne. Nina Chestney reports.
(source: Reuters)
