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-gas
April 26, 2021

Sharp drop in European prices

European gas prices fell sharply on Friday, pressured by the upward revision of temperatures and technical selling. The drop in Asia JKM prices and parity…
ES-oil
July 5, 2021

Diplomatic crisis

OPEC+ members did not achieved significant progress over the weekend to agree on a production policy going forward. The group is meeting today for another…
ES-gas
October 28, 2021

Prices down on hopes of higher Russian supply

European gas prices weakened yesterday, pressured by more comfortable spot fundamentals (above-normal temperatures, higher LNG supply). Moreover, on the pipeline supply side, Norwegian flows rebounded…
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]