European prices up on the spot and the curve
European spot gas prices extended gains overall yesterday. In addition to above-normal demand, lower pipeline supply contributed to tighten gas systems further. Indeed, due to…
European and Asian gas prices retraced some of their strong gains recorded earlier in the week on Friday. Spot prices also weakened slightly on the back of a long UK gas system, rising Norwegian production due to a reduced maintenance impact and prospects of higher sendouts from French LNG imports terminals. On the curve, the TTF Q4 21-Q1 22 spread moved further high in positive territory, highlighting strong concerns over an extended storage injection period inEurope to refill depleted stocks.
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