Prices up on temperatures revision and supply concerns

European gas prices were up overall yesterday, supported by the downward revision of temperatures and the ongoing weakness in Norwegian supply. Indeed, due to maintenance works, Norwegian flows were 315 mm cm/day on average yesterday, compared to 316 mm cm/day on Monday, below the 326 mm cm/day of February and 336 mm cm/day of January. Russian flows were very slightly up, at 327 mm cm/day on average, compared to 326 mm cm/day on Monday.

The rise in parity prices with coal for power generation (both EUA and coal prices were up) provided additional upward pressure, particularly for curve prices.

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