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
December 13, 2021

Central bank week

All major central banks and even the Bank of Russia or the Bank of Turkey are meeting this week. The Bank of Turkey is expected…
ES-oil
August 27, 2021

Hurricane rally

Crude prices jumped, with Brent October contract reaching 72 $/b, as the Ida hurricane threat became clearer. Ida is expected to reach oil infrastructures by…
ES-gas
October 18, 2021

Prices weakened in Europe and in Asia

European gas prices weakened overall on Friday, pressured by forecasts of higher LNG supply in Europe in the coming days and profit taking. The drop…
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]