London — British wholesale gas prices declined on Friday morning on healthy supply.
* The day-ahead price was 0.27 pence lower at 24.00 pence per therm by 0913 GMT.
* Traders said supply was robust and gas storage levels high, which was weighing on prices.
* Total supply from Norway is 9 million cubic metres (mcm) higher than the previous day at 313 mcm/day.
* Liquefied natural gas (LNG) send-out is nominated at 81 mcm, up from 70 mcm the previous day.
* The system is largely balanced with demand forecast at 299 mcm and flows at 297 mcm/day, National Grid data shows.
* On the demand side, gas-for-power demand is forecast at 616 mcm for the day ahead, up by 14 mcm from the previous forecast, Refinitiv Eikon data shows.
* Peak wind generation is forecast at 10.9 gigawatts (GW) on Friday and 13.5 GW the next day, Elexon data shows.
* Higher wind output usually curbs demand from gas-to-power plants.
* Consulancy Energy Aspects expects Europe will end the month with around 61.8 billion cubic metres (bcm) of gas in storage which is 18.3 bcm higher than the same time last year and record high stocks could be seen at the end of March.
* The March gas price was down 0.28 pence at 22.67 p/therm.
* “Further new coronavirus cases outside China may continue to pressure external fuels and weigh on prompt prices today,” Refinitiv gas analysts said.
* Oil prices slumped to their lowest in more than a year on Friday and were set for their steepest weekly fall in more than four years as the spread of the coronavirus stokes fears of slowing global demand.
* The Dutch TTF day-ahead price was down 0.25 euro at 8.85 euros per megawatt hour.
* The benchmark Dec-20 EU carbon contract was 0.23 euro lower at 23.37 euros a tonne.
Follow us on twitter