Prices for gas in Europe are little changed as supply risks have eased.
The Dutch and British wholesale gasoline prices remained unchanged on Friday as the supply risk eased because of Hurricane Francine's weakening in the United States and amid forecasts of warmer weather.
The benchmark contract for Dutch TTF Hub rose by 0.52 euros to 35.78 Euros per Megawatt Hour (MWh) at 1029 GMT. Meanwhile, the contract for November was 0.40 euros higher, at 37.45 Euros/MWh.
The day-ahead contract in the British market was 1.50 pence more expensive at 86.75 cents per therm.
Energy producers in the Gulf of Mexico were preparing for a partial restart of production after Hurricane Francine had disrupted operations. As it moved to the northeast, Hurricane Francine weakened from Category 2 hurricane into a tropical depression.
LSEG analyst Yuriy Onieshkiv stated that "there are no major changes in our short-term forecast, which continues to show lower demand next Monday amid warmer temperatures."
There is still a risk of upside in the event that Norwegian outages are extended. "Any minor change to the current schedule is unlikely to have a significant impact on the market," he said.
Gazprom, the Russian gas company, said that it will send 42 million cubic meters (mcm), or 42.3 mcm of gas via Ukraine to Europe on Friday. This is in line with previous days.
LSEG data shows that in Britain, temperatures are expected to increase by 7C over the next week, reaching a maximum of 16C on Thursday.
The benchmark contract on the European carbon markets was 0.13 euros lower, at 65.30 Euros per metric ton.
(source: Reuters)
