Gas prices closed at a premium on Friday, despite improved supply levels, as Norwegian maintenance is set to come to an end this week and additional LNG deliveries are expected to dock in North West Europe. Colder weather will lift demand in the coming weeks which was the main driver of prices at the front of the curve.
Gas prices decreased yesterday, shaking off the recent bullish sentiment seen in previous sessions. A very strong wind generation forecast for today helped the prompt record a loss but a colder weather outlook limited any decreases on the rest of the near curve.
Gas prices traded higher across the curve during Wednesday’s session, finding support from a rise in coal & oil. Meanwhile, the system was oversupplied during the session, weighing on the prompt, with an improved renewable power outlook for today applying additional bearish pressure.