Gas prices in Europe fall due to forecasted milder temperatures
Dutch and British wholesale gasoline prices dropped on Monday morning due to forecasts of milder temperatures than previously anticipated.
Data compiled by LSEG revealed that the benchmark Dutch front-month contracts at?the TTF Hub were down 2.13 Euros?at a price of?32.72 per megawatt hour (MWh) or $11.39 /mmBtu by 0926 GMT.
The Dutch April contract dropped by 1.73 euros to 30.67 euros/MWh. The British contract for the day-ahead price dropped by 8.25 pence to 82.25 p/therm.
LSEG data shows that the average temperature in North-West Europe is expected to be milder by Friday than was previously?expected.
Dzmitry Dzmitry Dauhalevich, LSEG Gas Analyst, says that the liquefied gas export is expected to increase gradually starting tomorrow.
19 cargoes will be delivered to terminals in North-West Europe within the next two weeks.
He added that "U.S. Feedgas volumes are?steady over the past few days, which supports a robust outlook for LNG exports."
The average daily gas flow to eight of the largest U.S. export LNG plants has risen to 18.5 billion cubic feet (bcfd), up from 17.8 in January. This compares to a monthly high of 18.5 billion cubic feet per day (bcfd) in December.
Iran's top diplomatic official said that the nuclear talks with the U.S., mediated by Oman, were off to a?good start? and are set to continue. These remarks could help to allay fears that failure to reach an agreement might push the Middle East towards war.
Around?20% of the global LNG trade is transported through the Strait of Hormuz, which connects Oman and Iran.
The benchmark contract on the European carbon markets rose 1.65 euros to 80.38 euro per metric ton. Nina Chestney reports.
(source: Reuters)
