News wire — British and Dutch gas prices were mostly down on Monday morning on steady flows, milder temperatures and lower demand.
In the British gas market, the within-day contract shed 20.00 pence to 218.00 pence/therm by 0942 GMT.
In the Dutch market, the day-ahead contract was down 1.75 euros at 103.00 euros per megawatt hour (MWh), while June contract was down 2.25 euros at 103.25 euros/MWh.
Norwegian flows to Britain are higher on Monday, with the impact of the end of maintenance at the Gullfaks field outweighing an unplanned outage at the Kvitebjoern field.
Milder temperatures are also forecast for this week, Refinitiv Eikon data showed.
On the continent, demand was set to drop and liquefied natural gas (LNG) tanker arrivals remained solid, Refinitiv gas analysts said.
Meanwhile, Russian gas deliveries through Ukraine rose on Monday morning following a weekend dip, while eastward physical flows from Germany into Poland on the Yamal-Europe pipeline almost doubled.
The UK day-ahead price was 3.00 pence higher at 213.00 pence per therm.
The South Hook liquefied natural gas (LNG) terminal will have a planned shutdown on Tuesday, with send-out expected to drop to zero from 31 million cubic metres (mcm) per day, analysts at Refinitiv said.
UK wind power generation is also forecast to drop from tomorrow which could increase gas-for-power demand.
Analysts and traders said there was still a risk of EU sanctions on Russian gas and concerns about supply cut off later this month amid a stand-off between many EU nations and Russia on gas payments in roubles.
The European Union’s executive is drafting proposals for an EU oil embargo on Russia, the foreign ministers of Ireland, Lithuania and the Netherlands said on Monday, although there is still no agreement to ban Russian crude.
In the European carbon market, the benchmark contract fell by 1.47 euro to 78.62 euros a tonne.
- Reuters (Reporting by Nora Buli in Oslo; editing by Nina Chestney)
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