Prices weakened again

European gas prices dropped again yesterday, pressured by more comfortable spot fundamentals and the strong fall in Asia JKM prices (-36.79%, to €104.713/MWh, on the spot; -7.07%, to €106.913/MWh, for the December 2021 contract).

At the close, NBP ICE November 2021 prices dropped by 27.940 p/th day-on-day (-10.22%), to 245.510 p/th. TTF ICE November 2021 prices were down by €11.61 (-10.73%) at the close, to €96.584/MWh. On the far curve, TTF Cal 2022 prices were down by €5.39 (-9.17%), closing at €53.365/MWh, which reduced slightly the spread against the coal parity price (€37.714/MWh, -0.85%).

EnergyScan - Gas market news

After tempting to drop below the 5-day Low yesterday, TTF ICE November 2021 prices managed to close slightly above. They profit from this support to rebound this morning. Unless the fundamental situation deteriorates further, the 5-day High should however set a strong resistance.

Share this news :

You might also read :

ES-oil
October 6, 2021

Loose physical crude markets

Crude prices rallied yesterday, with front-month ICE Brent futures reaching 83 $/b, as natural gas prices soared in Europe and Asia, putting pressure on diesel…
ES-gas
February 17, 2021

European prices rebounded

Prices rebounded yesterday in most European gas markets, supported mainly by the sharp drop in Norwegian flows (304 mm cm/day on average, compared to 338…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Don’t have an account yet? 

[booked-calendar]