Gas prices were almost unchanged by the end of the session, as an early morning sell-off was cancelled out in the afternoon. Power and carbon markets moved down, limiting the bullish pressure provided by a rise in oil, while coal was stable.
Gas prices displayed losses yesterday, both on UK and European markets with a drop in coal, cooler weather and a rise in supply all contributing to a bearish session. However, losses on the continent were stronger than their UK counterparts because of a weaker Pound.
Gas prices moved down on Friday with a drop in coal adding to bearish sentiment across the curve. Maintenance at the Nordstream pipeline was also expected to be concluded over the weekend which will result in improved supply levels.
Gas contracts displayed only minor changes yesterday, with prices showing no clear trend. Energy markets moved in opposite directions with coal and oil recording a small gain, while power and carbon closed down.
Gas prices moved down on Wednesday, cancelling out gains recorded in the previous session. Norwegian flows were higher, making up for a rise in gas-fired power generation, while movement on commodity markets was largely bearish.