Prices down on the spot and the curve

European gas prices were down yesterday, pressured by expectations of higher temperatures next week and more LNG supply in the near future. The slight drop in parity prices with coal for power generation (thanks to the drop in EUA prices, which offset the rise in coal prices) provided additional bearish pressure, particularly for far curve prices.

In Asia, JKM spot prices eased again, falling to €20.523/MWh yesterday, -5.88% day-on-day).

On the pipeline supply side, Norwegian flows were down yesterday, averaging 324 mm cm/day, compared to 344 mm cm/day on Monday, due to an unplanned outage at the Aasta Hansteen gas field. Russian flows were stable, at 301 mm cm/day on average.

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