The price of EUROPE GAS has recovered after a loss earlier in the week
The wholesale gas prices in both the Netherlands and Britain rose on Wednesday morning after falling earlier in this week.
LSEG data shows that the benchmark Dutch contract for August deliveries at TTF hub rose 0.86 euros to 33.30 Euro per megawatt-hour at 0813 GMT.
The Dutch contract was 0.43 euros higher, at 34.83 Euro/MWh.
The British contract in August increased by 2.03 pence to 80.35 cents per therm.
A gas trader reported that there seems to be some technical selling after the losses of earlier in this week.
LSEG data shows that the heatwave in Europe is expected to start to subside and temperatures are expected to drop by 4 degrees Celsius on average.
The wind power production is also expected increase, which could reduce the demand for gas in power plants. Norwegian exports of liquefied gas and natural gas are stable.
The benchmark contract on the European carbon markets rose 1.41 euros, to 71.99 euro per metric ton.
The European Commission is going to propose a climate target for the EU by 2040. The draft proposal, seen by reveals that the Commission will propose an legally-binding goal to reduce net greenhouse gas emission by 90 percent by 2040 compared to 1990 levels.
The plan also includes flexibility that would allow European industry to achieve the 90 percent emission target. Nina Chestney reports.
(source: Reuters)
