EUROPE GAS - Prices fall on mild temperatures and energy attack pause
The Dutch and British gas price fell on Wednesday morning, as the mild temperatures reduced gas demand. Meanwhile, the U.S. made deals with Russia and Ukraine to stop attacks against energy targets and at sea. LSEG data shows that the Dutch front-month contract fell by 0.15 euros to 40.97 euros per Megawatt Hour (MWh), or $12.96/mmBtu at 0917 GMT. The Dutch May contract is down 0.75 euros at 40.95 Euro/MWh.
German wind energy supply plummets on Monday
The German and French power prices for the following Monday were not traded on Friday. However, a tumbling wind output and a flagging solar output in the entire region was expected to have an upward effect on prices. LSEG data shows that the German and French baseload power prices for Monday were not traded by 0938 GMT. Naser Hashemi, LSEG analyst, said that on Monday, wind power…
The price of gas in Europe has recovered from a new 5-month low
The European wholesale gas price at the TTF hub has rebounded after dropping to its lowest level in 5 months early in trade, amid protests against gas infrastructure in Ukraine. LSEG data shows that the benchmark front-month contract for the Dutch TTF Hub rose to 39.94 Euros per megawatt hour or MWh, or $12.71/mmBtu at 09:39 GMT. It traded at 36.45 Euros/MWh earlier on Friday. This was its lowest price since September 27, 2024.
The benchmark Dutch gas price has fallen on EU's Ukraine gas transport push
Dutch wholesale gas fell below 40 euro ($43.31), for the first time in this year, after news broke that European leaders were set to ask EU authorities and Kyiv intensify their talks to resolve an end to Russian gas transiting through Ukraine. By 1606 GMT, the benchmark front-month contract for the Dutch TTF hub had fallen by 2.15 euros to 38.85 euros/MWh, or $12.26/mmBtu. LSEG data show that the contract reached 38.48 Euros in early trade…
Prices for gas in Europe fall as storage targets are extended and temperatures rise
The Dutch wholesale gas price fell on Wednesday afternnon amid warmer temperatures. In addition, the European Commission announced a two-year extension to winter storage targets. However, it signaled flexibility regarding interim targets. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub was down 2,15 euros at 41.15 Euros per megawatt hour at 1648 GMT. The Dutch May contract dropped by 0.90 euros to 41.86 Euro/MWh.
EUROPE GAS-Dutch prices rangebound amid gas storage target extension
The Dutch wholesale gas price ranged on Wednesday morning, as warmer temperatures were expected to continue through this week before turning colder the following week. In addition, the European Commission had proposed an extension of two years for gas storage targets. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub dropped by 0.04 euros to 43.26 Euro per megawatt hour at 1012 GMT.
Vitol and Glencore receive $380 Million award in Nigerian LNG litigation
Court documents obtained by revealed that trading houses Vitol, Glencore, and their gas suppliers, trading firms Taleveras won a legal case in London against Nigeria's only liquefied gas (LNG), producer, for not delivering cargoes. The London High Court and Court of Appeal heard the case, the latest of a series of lawsuits filed by buyers against producers and sellers for non-delivery…
Vitol and Glencore receive $380 Million award in Nigerian LNG litigation
Court documents obtained by revealed that trading houses Vitol, Glencore, and their gas suppliers, trading firms Taleveras won a legal fight in London against Nigeria's only liquefied gas (LNG), producer, for not delivering cargoes. The London High Court and Court of Appeal heard the case, the latest of a series of lawsuits filed by buyers and sellers for non-delivery of goods after…
As the price cap increases by 6.4%, millions of Britons will be paying more for their energy.
After Ofgem announced that its domestic price cap will rise by 6.4% in April due to the soaring wholesale prices of energy, millions of Britons are expected to pay more for their energy. This is the third consecutive quarter that the price has risen. It's a major blow to the government which has set reducing energy costs as one of its goals. This comes on the heels of higher than expected inflation numbers for January.
EQT's profit for the fourth quarter beats estimates due to higher natural gas prices and sales
EQT's fourth-quarter profit exceeded analysts' estimates on Tuesday as the natural gas company benefited from increased prices and sales. The natural gas price rose during the first quarter of this year, reaching a peak that has not been seen in two years. This was due to an increase in gas flow to export plants for liquefied gas. Prices were also boosted by the forecast of more cold weather for January, which will increase heating demand.
Cornwall Insight: Britain to see a 5% increase in energy prices by April
Analysts at Cornwall Insight predicted that Britain's energy price cap would rise by almost 5% this April. Cold weather and low levels of gas storage in Europe are keeping wholesale prices high. This would be the third consecutive quarter of increases, and would be a major blow to the government, who has set a goal of reducing energy costs. Craig Lowrey is a principal consultant with Cornwall Insight.
Prices of gas in Europe are lower than the first session for a second session. Ukraine Peace prospects dominate
The wholesale gas price in the Netherlands and Britain continued to fall on Thursday, after reaching a two-year peak on Tuesday. Market participants were watching for any further developments regarding the efforts of U.S. president Donald Trump to bring an end to the conflict in Ukraine. LSEG data shows that the benchmark front-month contract for the Dutch TTF Hub was lower by 2.85 euros, or $16.21/mmBtu at 1003 GMT.
Prices fall in Europe amid profit-taking and temperature revision
The wholesale gas prices in the Netherlands and Britain fell Wednesday morning, as profit-taking took place after Tuesday's new two-year peak. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub was 1,35 euros lower at 55.10 Euro per megawatt hour by 1307 GMT. The Dutch April contract is down by 2.48 Euros at 55.12 euro/MWh. The front-month contract in Britain fell 4.54 pence, to 134.41 cents per therm.
European energy industry urges EU to not cap gas prices
The European Union's gas and trading industries are urging it not to cap the gas price, while Brussels is looking for ways to protect businesses and consumers from rising energy prices. The European Commission has been preparing a set of measures that will be presented on 26 February to help improve the competitiveness of industries and lower energy prices. The cold weather and…
European energy industry urges EU to not cap gas prices
The European Union's gas and trading industries are urging it not to cap the gas price, while Brussels is looking for ways to protect businesses and consumers from rising energy prices. The European Commission has been preparing a set of measures that will be presented on 26 February to help improve the competitiveness of industries and lower energy prices. The cold weather and…
European energy industry urges EU to not cap gas prices
The European Union's gas and trading industries are urging it not to cap the gas price, while Brussels is looking for ways to protect businesses and consumers from rising energy prices. The European Commission has been preparing a set of measures that will be presented on 26 February to help improve the competitiveness of industries and lower energy prices. The cold weather and…
Orban: Hungary will block EU Russia sanctions the next time, unless Ukraine gas is transited again.
Hungarian Prime Minster Viktor Orban warned on Friday that he would block the next rollover in EU sanctions against Russia, unless Brussels helped achieve a restart of Russian Gas Transit via Ukraine which was stopped on January 1. Orban said on state radio that Ukraine's decision to stop Russian gas transit into Central Europe, and the price hike that resulted from it, was "unacceptable".
Prices of EUROPE GAS rebound due to a weaker wind and colder weather
The wholesale gas prices in the Netherlands and Britain rebounded Tuesday morning after falling on Monday, due to expected colder weather conditions and reduced wind output. The benchmark contract for the Dutch TTF hub at 0914 GMT was 0.67 euros higher, at 48.59 Euros per Megawatt Hour (MWh), while the contract for March was 1.52 Euros higher, at 48.45 EUR/MWh. The contract in Britain for March was 0.57 cents higher, at 119.39 cents per therm.
Interfax reports that Gazprom wants to increase the domestic gas price in Russia.
Interfax reported that Gazprom, the Russian gas giant, was trying to increase prices in order to fund investments. The company's sales abroad have plummeted as European buyers are turning away due to the Ukraine conflict. Gazprom suffered losses of nearly $7 billion in 2023. This was its first loss in over 20 years. The decline in gas sales to Europe, which used to be its primary market, is the reason for this.
Goldman Sachs raises US gas price forecast amid colder winter
Goldman Sachs raised its forecast of U.S. Natural Gas prices from $3.00 per million British Thermal Units (MMBtu), to $3.60 for 2025. This is due to tighter gas balances in this winter, as a result of colder than average temperatures. The bank stated that "there is no need for $4 gasoline just yet". The investment bank stated in a note that it expects a more moderate downward revision of our storage expectations for end-October 2025, which is -124 BCF (to 3,980Bcf).
