European prices continued to rebound

European gas prices continued to rebound yesterday, still supported by concerns on tight spot fundamentals. Despite lower demand, pipeline supply remains relatively weak, which maintains European gas stocks significantly below last year levels: they were 37% full on 31 May, compared to 73% last year.

The rise in Asia JKM prices and in parity prices with coal for power generation (both EUA and coal prices were up) provided additional upward pressure.

On the pipeline supply side, Norwegian flows increased again yesterday, averaging 284 mm cm/day, compared to 279 mm cm/day on Monday. As for Russian flows, they remained stable, at 332 mm cm/day on average.

TTF-cal-2022
Share this news :

You might also read :

ES-economy
October 1, 2021

October is not starting very well

While September ended with the biggest decline in the US equity market since March, October starts with a sharp fall in Asia, particularly in Japan, despite…
ES-gas
January 28, 2021

European gas prices mixed yesterday

European gas prices were mixed yesterday, torn between the impacts of mild weather and lower Asian prices on the one hand and higher coal prices…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter

Don’t have an account yet? 

[booked-calendar]