Curve prices down again

European spot gas prices were mixed yesterday: down in the UK on expectations of higher Norwegian supply from today, up on the continent as significantly above-normal temperatures continued to pull air conditioning demand higher. On the pipeline supply side, Norwegian flows were lower yesterday, at 258 mm cm/day on average, compared to 264 mm cm/day on Tuesday. As for Russian flows, they were stable, at 332 mm cm/day on average.

Curve prices were more clearly down as the drop in Asia JKM prices and in parity prices with coal for power generation (thanks to lower EUA prices) exerted downward pressure.

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June 3, 2021

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