Most gas prices fluctuated on Wednesday, displaying gains in the morning before ending the session at a loss. Cold temperatures provided support at the start of the session but healthy supply levels offered bearish pressure throughout the day.
Gas prices stabilised yesterday with the help of a rebound in oil which put a stop to the bearish trend displayed in the morning. Cold temperatures also offered support to the near-curve with an expected rise in demand forecast for today.
Gas prices decreased on Monday as the overall energy complex was weak, with coal, carbon, power and oil markets all showing losses. An expected rise in temperatures further weighed on contracts at the front of the curve, in addition to healthy supply.
Gas prices decreased on Friday as supply levels were healthy, with strong flows into the continent from Norway and Russia. Dutch production and LNG send-outs were also comfortable, while weaker demand was expected over the weekend. However, a rise in coal and oil limited losses on the far-curve.
Gas prices were pressured down by a long system and a weaker demand forecast, with milder weather expected over the weekend and next week. Another LNG delivery is also scheduled to dock in the UK even though storage is close to capacity.