EnergyScan

European prices closed lower after a very volatile session

After a very volatile session (see our news), European gas prices closed lower yesterday, in line with the sharp drop in coal parity prices. Asia JKM prices on their side closed in a mixed way: +42.35%, to €165.665/MWh, on the spot; -8.76%, to €115.111/MWh, for the December 2021 contract.  Norwegian flows were almost stable, averaging 335 mm cm/day, compared to 334 mm cm/day on Tuesday.

At the close, NBP ICE November 2021 prices dropped by 20.460 p/th day-on-day (-6.96%), to 273.450 p/th. TTF ICE November 2021 prices were down by €7.83 (-6.75%) at the close, to €108.191/MWh. On the far curve, TTF Cal 2022 prices were down by €7.03 (-10.69%), closing at €58.751/MWh, but widening again the spread against the coal parity price (€38.038/MWh, -17.04%).

EnergyScan - Gas market analysis

TTF ICE November 2021 prices are down again this morning, even falling below the 5-day Low, a situation which could lead some financial participants to initiate buying positions. However, as prices are still in overbought territory according to more traditional technical standards, a drop below the 20-day High cannot be excluded.

Share this news :
Share on twitter
Share on linkedin
Share on email

You might also read :

ES-economy
February 19, 2021

Has bad news become bad news again?

When US jobless claims figures showed an unexpected second increase in a row yesterday, we thought the stock and bond market would both love them,…
ES-gas
July 16, 2021

European prices down again

Prices weakened again yesterday in most European gas markets, pressured by lower demand and technical selling (on the back of lower oil prices). On the pipeline…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Don’t have an account yet?  Sign up here!

[booked-calendar]