European prices crashed yesterday

European gas prices crashed yesterday, both on the spot and the curve, extending their previous session’s sharp losses.

The market ignored the drop in Norwegian flows, which averaged 269 mm cm/day, compared to 286 mm cm/day on Tuesday, due to unplanned outages. Russian flows were stable, at 331 mm cm/day on average.

It took direction from the news that the US administration would not impose sanctions against the developer of the Nord Stream 2 pipeline. The drop in parity prices with coal for power generation (both EUA and coal prices were down) provided additional downward pressure.

ttf-cal-2022
Share this news :

You might also read :

ES-oil
May 28, 2021

Crude oil prices sharply on the rise

Brent 1st-nearby prices have neared the key level of $70/b this morning. Expectations of higher oil output from OPEC+ producers and the potential comeback of…
ES-oil
March 31, 2022

US to tap into strategic reserves

In less than 2 hours yesterday, the price of Brent 1st-nearby first approached $115/b before plunging towards $104/b. It has since recovered to around $113/b.  Fears of…
ES-gas
April 13, 2021

Sharp increase in European prices

European gas prices increased sharply yesterday, supported by cold weather and weak pipeline supply. Indeed, although they increased yesterday to 300 mm cm/day on average,…
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]