Rebound in European spot prices

European spot gas prices rebounded yesterday, wiping out some of their Friday losses.

Prices on the curve were more mixed as the impact of the slight increase in parity prices with coal for power generation was offset by the drop in Asia JKM prices.

On the pipeline supply side, Russian flows were very slightly down yesterday, at 328 mm cm/day on average, compared to 329 mm cm/day on Friday. The same for Norwegian flows, which averaged 300 mm cm/day, compared to 302 mm cm/day on Friday (still significantly below the maximum of 348 mm cm/day of early April).

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