Prices up on the spot, down on the far curve

European spot gas prices rebounded on Friday, supported by higher residential demand and weak pipeline supply. Indeed, Norwegian flows weakened again, averaging 263 mm cm/day, compared to 266 mm cm/day on Thursday, due to unplanned works at the Oseberg field. As for Russian flows, they remained stable, at 332 mm cm/day on average.

The rise in spot prices spread slightly to near curve prices. By contrast, far curve prices were down, pressured by the drop in EUA prices, which reduced parity prices with coal for power generation.