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Europe: EURO GAS: UK, Dutch prices stable to stronger early Monday

Europe: EURO GAS: UK, Dutch prices stable to stronger early Monday

Write: Aristotle [2011-05-20]
p>UK NBP and Dutch TTF gas prices were looking stable to stronger Monday morning, compared with the previous week's closing levels.


At 09:20 UK time (0820 GMT) the UK within-day price was 43.25 pence/therm and day-ahead 44.00 p/th, up from a closing price for Monday's gas of 41.60 p/th last Friday evening.


The Dutch TTF day-ahead gas price was Eur18.00/MWh, down 10 cents from last Friday's close. But earlier Monday the TTF day-ahead had been seen at Eur18.25/MWh, which was 15 cents above last week's close.


TTF November traded early Monday at Eur18.95/MWh, up 25 cents from last week.


On the forward curve, the UK Summer 11 traded at 48.15 p/th, holding firm to last Friday's close. Winter 11 at 56.55 p/th was also little changed.


UK network operator National Grid showed the UK system a little short, with demand estimated at 277 million cubic meters, against supply of 270 million cu m.


North Sea flows were looking reasonably steady on National Grid's flow graphs.


China Chemical Weekly: http://news.chemnet.com/en/detail-1411716.html