Prices up again, on the spot and the curve

European spot gas prices increased again on Friday, still supported by below-normal temperatures and relatively weak pipeline supply. Indeed, although Norwegian flows firmed up on Friday, averaging 293 mm cm/day, compared to 289 mm cm/day on Thursday, they were still below the 315 mm cm/day of early May, a source of concern at a time when European gas systems need much more supply to fill gas stocks whose levels (33%) are significantly below those of last year (68%). As for Russian flows, they were very slightly up, at 332 mm cm/day on average, compared to 331 mm cm/day on Thursday.

Curve prices were also higher as the rise in Asia JKM prices and in parity prices with coal for power generation (both EUA and coal prices were up) provided additional upward pressure.

TTF-cal-2022
Share this news :

You might also read :

ES-power
February 18, 2022

EUAs collapsed on 2022 free allocation start

The European power spot prices sharply rebounded yesterday on expectations of much weaker nuclear availability, although the still very high renewable production dampened the bullish…
ES-oil
July 29, 2021

America outperforms

Crude prices continued to rise yesterday, to reach 75 $/b for the ICE Brent August contract on the backend of drawing US petroleum inventories and supportive macro…
ES-gas
April 22, 2022

Prices up on lower Norwegian supply

European gas prices increased again yesterday, supported by lower pipeline supply. Indeed, Norwegian flows weakened again, averaging 306 mm cm/day, compared to 313 mm cm/day…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter

Don’t have an account yet? 

[booked-calendar]