Prices dropped as transit through the Suez Canal resumed

European gas prices dropped yesterday, both on the spot and the curve, pressured by the resumption of shipping flows through the Suez Canal after the Ever Given container vessel was successfully freed.

On the pipeline supply side, due to an unplanned outage at the Kollsnes gas processing plant, Norwegian flows weakened further, falling to 312 mm cm/day on average yesterday, compared to 329 mm cm/day on Friday. Russian flows were stable, averaging 328 mm cm/day.