Gas prices stabilised in the afternoon and displayed losses by the session’s close. Equity markets dropped off, along with oil and coal as EU & US economies showed weak data. Power and Carbon allowance contracts also closed lower.
Gas prices rose again yesterday, with support provided by stronger coal and oil. Power and carbon also strengthened, offering additional support, while a drop in renewable power lifted gas demand and helped the prompt move higher.
Gas prices eased down on Monday afternoon as upward movement on coal and carbon markets calmed, while power traded lower. Oil remained flat, while strong wind generation and improved imports balanced the system.
Gas prices moved down at the end of last week, pressured down by weaker coal and power, with carbon contracts also dropping by €1. Oil was mostly flat, while the prompt closed down on the back of an expected drop in demand over the weekend and the start of this week.