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-oil
April 16, 2021

Chinese runs in March remained strong

ICE Brent prompt month reached 67.1 $/b on early Thursday, as the dollar continued to weaken and new data on the Chinese refining sector showed sustained…
ES-oil
November 17, 2021

Stocks dynamics remains mysterious

Global crude stocks are the subject of interest for many market participants lately. Sattelite imagery providers are reporting steep draws since November, especially Kayrros. On the other…
ES-gas
July 7, 2021

Strong downward correction

European gas prices dropped significantly yesterday, pressured by below-normal demand and technical correction, which outweighed the impact of lower Russian supply. Indeed, due to maintenance…
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]