London (Platts)--4Mar2011/908 am EST/1408 GMT
Prompt European gas traded at fairly stable prices by midday Friday, with Brent crude oil prices strengthening slightly on the morning after Thursday's falls at market close and cold weather throughout the continent still, traders said. The biggest rise from the previous day's close was seen by the German NetConnect day-ahead contract, rising 20 euro cent to Eur23.25/MWh. The rest of European gas prompt contracts remained fairly stable, with the Dutch TTF day-ahead trading 10 euro cent up from Thurday's close to Eur22.95/MWh, the German GASPOOL day-ahead increasing by 5 euro cent to Eur23.10/MWh and the French PEG Nord day-ahead flat at 23.10/MWh. According to weather service CustomWeather, Friday temperatures remain similar to Thursday's, with Paris still registering temperatures 4 degrees Celsius below its seasonal norm of 4-11 C. Berlin will be 2 C below seasonal norm Friday while Amsterdam is just 1 C below average. Article continues below... Request a free trial of: European Gas Daily European Gas Daily is a flagship Platts publication that delivers crucial competitive intelligence across the entire European gas marketplace. It keeps you ahead of critical price changes and their effects on the industry.
Prompt European gas traded at fairly stable prices by midday Friday, with Brent crude oil prices strengthening slightly on the morning after Thursday's falls at market close and cold weather throughout the continent still, traders said. The biggest rise from the previous day's close was seen by the German NetConnect day-ahead contract, rising 20 euro cent to Eur23.25/MWh. The rest of European gas prompt contracts remained fairly stable, with the Dutch TTF day-ahead trading 10 euro cent up from Thurday's close to Eur22.95/MWh, the German GASPOOL day-ahead increasing by 5 euro cent to Eur23.10/MWh and the French PEG Nord day-ahead flat at 23.10/MWh. According to weather service CustomWeather, Friday temperatures remain similar to Thursday's, with Paris still registering temperatures 4 degrees Celsius below its seasonal norm of 4-11 C. Berlin will be 2 C below seasonal norm Friday while Amsterdam is just 1 C below average.
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European Gas Daily is a flagship Platts publication that delivers crucial competitive intelligence across the entire European gas marketplace. It keeps you ahead of critical price changes and their effects on the industry.
The cold spell in Europe will continue next week, with temperatures in both Paris and Berlin dropping 5 C below seasonal norms Monday. The Netherlands will continue registering temperatures 1-2 C below seasonal average through the weekend and next week. Front-month Brent crude oil price was trading at around $115/barrel Friday morning, rebounding from Thursday's softening and lending strength to both the European gas prompt and forward curve. The Dutch TTF April contract traded at lunchtime Friday slightly down from the previous day's market closing price, slipping 10 euro cent to Eur22.55/MWh. The TTF Cal 12 contract also changed hands at a slightly lower level, but fairly similar to its strong Thursday assessment. It dropped 10 euro cent on the day to Eur25.40/MWh.