Higher coal prices lent support to gas prices

European gas prices were mixed yesterday on the spot and the near curve. Russian flows dropped significantly, averaging 225 mm cm/day, compared to 245 mm cm/day on Monday, a drop that seems due to lower offtakes by long-term buyers. This was partly offset by higher Norwegian flows, which increased to 334 mm cm/day on average, compared to 324 mm cm/day on Monday. By contrast, far curve prices continued to increase, supported by the additional rise in coal prices.

At the close, NBP ICE May 2022 prices dropped by 1.860 p/th day-on-day (-0.87%), to 211.150 p/th. TTF ICE May 2022 prices were up by €2.08 (+2.08%), closing at €102.219/MWh. On the far curve, TTF ICE Cal 2023 prices were up by €2.45 (+3.14%), closing at €80.261/MWh.

In Asia, JKM spot prices dropped by 0.88%, to €93.927/MWh; May 2022 prices increased by 0.36%, to €103.900/MWh.

Share this news :

You might also read :

May 23, 2022

Prices weakened on bearish spot fundamentals

European gas prices weakened again on Friday, pressured by weak demand and comfortable supply. While Russian flows were stable, averaging 227 mm cm/day, Norwegian flows…
January 13, 2022

Refining works in the US

Crude prices rallied yesterday, above 85 $/b for ICE Brent crude, despite a rather neutral data release from the EIA. Indeed, crude stocks continued to…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Don’t have an account yet?