Continental European prompt gas prices rebounded somewhat Wednesday, as the market re-established its comfort zone during a cold period in Northwest Europe.
Dutch TTF day-ahead gas was at Eur21.25/MWh at 1200 London time, up Eur0.35/MWh on Tuesday's close. This followed a fall of Eur0.50/MWh on Tuesday. The German NCG day-ahead contract was flat with the Dutch price Wednesday, with France's PEG Nord sitting at a Eur0.10/MWh discount.
Temperatures are forecast to remain several degrees below normal well into next week, and the slump in prices Tuesday was a knee-jerk reaction to Monday's gains, one trader said.
Prices wobbled on NBP system data Wednesday morning, and there was some shyness on the buy side, said another.
"People are not willing to go particularly long now," he said.
There were similar gains on the front of the TTF curve. Working days next week edged up Eur0.20/MWh to Eur21.25/MWh, while December rose Eur0.40/MWh to Eur20.90/MWh.
Dutch TTF day-ahead gas was at Eur21.25/MWh at 1200 London time, up Eur0.35/MWh on Tuesday's close. This followed a fall of Eur0.50/MWh on Tuesday. The German NCG day-ahead contract was flat with the Dutch price Wednesday, with France's PEG Nord sitting at a Eur0.10/MWh discount.
Temperatures are forecast to remain several degrees below normal well into next week, and the slump in prices Tuesday was a knee-jerk reaction to Monday's gains, one trader said.
Prices wobbled on NBP system data Wednesday morning, and there was some shyness on the buy side, said another.
"People are not willing to go particularly long now," he said.
There were similar gains on the front of the TTF curve. Working days next week edged up Eur0.20/MWh to Eur21.25/MWh, while December rose Eur0.40/MWh to Eur20.90/MWh.
