11th May 2020 | Posted by: Lawrence Carson | Market Analysis
Bank holiday in most countries meant European gas prices traded mostly sideways on Friday. Most contracts traded at all time lows, however steady Brent prices above the $30/b mark played into the bullish sentiment on the far curve.
Gas prices inched higher on Wednesday, with the front of the curve supported by an undersupplied system due to increased gas-fired power demand. Meanwhile, the overall energy complex was generally stable compared to previous sessions.
Gas prices stabilised yesterday afternoon, with only minor changes in either direction. Rising Brent continued to provide support further along the curve, while a weaker renewable power outlook for today lifted the prompt.
Gas prices increased on Monday, with support provided by a rise in demand which resulted in an undersupplied system. The Pound also weakened against the Euro which provided additional bullish pressure to the prompt.
4th May 2020 | Posted by: Rebecca Haughton | Market Analysis
European gas prices ended the week on another bearish note on Friday, pressured by lingering weakness in supply/demand fundamentals. Gas demand remained below seasonal norms overall due to lockdown measures but some signs of a progressive restart in economic activity are emerging.