AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.00 Decreased By ▼ -0.53 (-0.41%)
BOP 6.76 Increased By ▲ 0.08 (1.2%)
CNERGY 4.50 Decreased By ▼ -0.13 (-2.81%)
DCL 8.70 Decreased By ▼ -0.24 (-2.68%)
DFML 41.00 Decreased By ▼ -0.69 (-1.66%)
DGKC 81.30 Decreased By ▼ -2.47 (-2.95%)
FCCL 32.68 Decreased By ▼ -0.09 (-0.27%)
FFBL 74.25 Decreased By ▼ -1.22 (-1.62%)
FFL 11.75 Increased By ▲ 0.28 (2.44%)
HUBC 110.03 Decreased By ▼ -0.52 (-0.47%)
HUMNL 13.80 Decreased By ▼ -0.76 (-5.22%)
KEL 5.29 Decreased By ▼ -0.10 (-1.86%)
KOSM 7.63 Decreased By ▼ -0.77 (-9.17%)
MLCF 38.35 Decreased By ▼ -1.44 (-3.62%)
NBP 63.70 Increased By ▲ 3.41 (5.66%)
OGDC 194.88 Decreased By ▼ -4.78 (-2.39%)
PAEL 25.75 Decreased By ▼ -0.90 (-3.38%)
PIBTL 7.37 Decreased By ▼ -0.29 (-3.79%)
PPL 155.74 Decreased By ▼ -2.18 (-1.38%)
PRL 25.70 Decreased By ▼ -1.03 (-3.85%)
PTC 17.56 Decreased By ▼ -0.90 (-4.88%)
SEARL 78.71 Decreased By ▼ -3.73 (-4.52%)
TELE 7.88 Decreased By ▼ -0.43 (-5.17%)
TOMCL 33.61 Decreased By ▼ -0.90 (-2.61%)
TPLP 8.41 Decreased By ▼ -0.65 (-7.17%)
TREET 16.26 Decreased By ▼ -1.21 (-6.93%)
TRG 58.60 Decreased By ▼ -2.72 (-4.44%)
UNITY 27.51 Increased By ▲ 0.08 (0.29%)
WTL 1.41 Increased By ▲ 0.03 (2.17%)
BR100 10,450 Increased By 43.4 (0.42%)
BR30 31,209 Decreased By -504.2 (-1.59%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

LONDON: British and Dutch wholesale gas prices were mixed on Monday morning amid weak liquidity due to a public holiday in several European cities.

In the British gas market, the contract for immediate delivery rose by 29 pence to 152 pence per therm by 0836 GMT.

The gas system in the UK was 26.7 million cubic meters (mcm) undersupplied on Monday, National Grid data showed.

Slower wind speeds have raised the day-ahead gas for power forecast by 9 mcm to 68 mcm per day, Refinitiv analysts said.

Peak wind power generation is forecast at 4.4 gigawatts (GW) on Monday and is expected to fall to 2.4 (GW) on Tuesday, out of a total metered capacity of 19.9 (GW), Elexon data showed.

In the Dutch gas market, the July contract rose by 1.10 euros to 84.6 euros/MWh, while the day-ahead contract fell by 5.03 euros to 78.47 euros/MWh.

“In the short term, the market looks quite bearish as LNG is still heading to Europe and as Russian gas flows continue to come in,” a European gas trader said.

Russian gas flows directly to Germany rose on Monday compared with the weekend, while other flows to Europe remained stable.

Russia’s Gazprom said its supply of gas to Europe through Ukraine via the Sudzha entry point was seen at 40.1 million cubic metres (mcm) on Monday, unchanged from Sunday.

Analysts at Citi said in a research note they expect Dutch TTF prices to start easing as the issue over companies paying in Roubles seems settled and LNG flows continue to head to Europe.

“Market sentiments have calmed down... with the Rouble for gas issue now fading, Europe should be able to fill its inventory, which could help ease prices,” they said.

In the European carbon market, the benchmark contract fell by 1.74 euros to 85.13 euros a tonne.

Comments

Comments are closed.