Physical grades weaken
Brent futures prices were stable at 55.5 $/b for the prompt future contract amid growing concerns over new lockdowns, as Hong Kong declared a 2-day lockdown,…
European gas prices dropped yesterday, pressured by the (slight) upward revision of temperatures for this week. The drop in parity prices with coal for power generation (thanks to lower EUA prices) provided additional downward pressure, particularly for curve prices.
On the pipeline supply side, Norwegian flows increased slightly yesterday, at 340 mm cm/day on average, compared to 337 mm cm/day on Friday. Russian flows were also higher, averaging 326 mm cm/day, compared to 320 mm cm/day on Friday.
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