Gas prices in the Netherlands and Britain are stable with warmer weather forecast
The Dutch and British wholesale prices of gas traded within a narrow range Wednesday morning, amid the expectation of warmer weather conditions and stable supplies.
LSEG data shows that the benchmark Dutch front-month contract was up 0.07 euros to 34.65 Euro per megawatt hour or $11.92/mmBtu at 0818 GMT.
The Dutch day-ahead contracts was down 0.17 Euro at 34.17 EUR/MWh.
The British day-ahead contracts was up 0.25 cents at 82.50 pence/therm.
In a daily note, LSEG analyst Wayne Bryan stated that he expects TTF day-ahead price to remain within its recent range without any significant deviation based upon current fundamentals.
LSEG predicts that local distribution zone demand will average 1,320 gigawatt-hours/day between Saturday and July 21. This is around 30% less than the current seven-day average due to warmer temperatures.
LSEG data shows that the total Norwegian export nomina-tions are at 321 millions cubic metres per day.
Georg Muller, LSEG's meteorologist, said that next week temperatures will be near or above average.
Analysts say the market is waiting for more news on the U.S. trade tariffs.
In a daily market report, Auxilione stated that "revised concerns about U.S. tariffs" have once again hit the headlines.
The European Parliament gave its final approval on Tuesday to a deal that will loosen EU rules for filling up gas storage tanks, after concerns were raised about the risk of energy prices rising due to earlier regulations.
The 90% target will remain, but member states can now meet it between October and December instead of the previous November 1 deadline.
The benchmark contract on the European carbon markets was up by 0.17 euros at 70.62 euro per metric ton. (Reporting by Susanna Twidale, editing by Nina Chestney).
(source: Reuters)
