Lower prices in Europe and in Asia
With unchanged fundamentals, European gas prices weakened yesterday, pressured by technical selling. The additional drop in Asia JKM prices and the drop in parity 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, compared to 286 mm cm/day on Friday, Russian flows were still below the 324 mm cm/day of Thursday as Yamal flows remained below their pre-outage level. As for Norwegian flows, due to planned maintenance works, they dropped again, averaging 310 mm cm/day, compared to 327 mm cm/day on Friday.
The rise in parity prices with coal for power generation (both EUA and coal prices were up) provided additional upward pressure, particularly on curve prices.
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