Gas prices continued to ease down yesterday with the help of an oversupplied system and a milder weather outlook. The system was long throughout the session despite planned maintenance at Russian and Norwegian facilities which reduced imports. Weakening carbon and oil markets also helped to weigh on the far-curve.
Gas prices moved down yesterday with an oversupplied system helping to weigh on near-curve prices, while the back of the curve found direction from a downward correction in European energy prices; coal, carbon and power all displayed a loss.
Gas prices rallied higher on Monday with support provided at the front of the curve by the cold weather outlook, a short system and lower renewable power. Upward movement on coal and oil markets was also supportive, leading to gains further along the curve.