European prices crashed yesterday

  • Gas

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
January 15, 2021

All eyes on China

Brent prompt future prices retreated further at 55.7 $/b as growing concerns about the Chinese health situation raised concerns about Chinese oil demand prospects. President Biden unveiled…
ES-economy
July 9, 2021

The correction may be over for now

The exit from the “reflation trade” continued yesterday with a strong decline in equities and new lows for bond yields (1.25% for the US 10y). China fueled…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

START A FREE TRIAL
Subscribe to our newsletter
LOG IN

Don’t have an account yet? 

Sign up here!
[booked-calendar]