European prices down again

Gas
May 31, 2021

European gas prices extended (moderately) losses on Friday as the rise in temperatures continued to exert downward pressure.

The drop in Asia JKM prices and in parity prices with coal for power generation (the drop in EUA prices offset the rise in coal prices) also provided some additional downward pressure.

On the pipeline supply side, Norwegian flows dropped slightly on Friday, averaging 270 mm cm/day, compared to 273 mm cm/day on Thursday. As for Russian flows, they were very slightly up on Friday, at 332 mm cm/day on average, compared to 331 mm cm/day on Thursday.

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European prices down again

You might also read :

Prices sharply up as Russia launched strikes on Ukraine

Growth concerns rise after Chinese figures

Bond yields seem to be levelling off despite strong US job creation, the vote on the stimulus package and soaring oil prices

Simplifying energy markets