Prices of gas in Europe remain stable as the market searches for new inputs

The Dutch and British wholesale prices of gas were volatile on Friday due to a lack fundamental news and a sufficient supply.

According to LSEG, the benchmark Dutch front-month contracted eased 0.20 euros to 33.45 euro per megawatt hour. The June contract rose 0.30 euro to 33.63 euro/MWh at 0859 GMT.

The British day-ahead contract is down 0.81 pence to 81.00 pence per therm.

In a morning report, LSEG analyst Saku Jussila said: "We expect another sideways day today due to the lack of major fundamental movers and news."

He added that Britain's exports to Europe could be increased due to a more favourable balance within the British system. This would allow it to offer a wider price discount.

Georg Mueller, LSEG's meteorologist, said that continental Europe and Britain will experience a dry and sunny climate with temperatures above normal until May 5.

The Kaarstoe plant's capacity will be further reduced over the weekend as annual maintenance is scheduled.

Analysts at Energy Aspects wrote in a recent note that the European market will likely benefit from an increase in Asian spot LNG purchases at current prices. Spot LNG is now more expensive than other fuels.

Both markets are competing for LNG cargoes on the global market.

Energy Aspects said that the U.S. tariff war had also led to increased uncertainty about global gas demand. However, the market may have overestimated any potential negative effects.

A committee of the European Parliament voted on Thursday in favor of plans to lower targets for filling gas storage after EU governments backed a softening of current rules earlier in April. If a quick agreement is reached, the new targets could be implemented this year.

Gas Infrastructure Europe (GIE), a European gas infrastructure company, has reported that Europe's storage sites are now starting to fill up after the winter but remain 24 percentage points lower than the same period in the previous year.

The benchmark contract on the European carbon markets increased by 0.20 euros to 66.51 euro per metric tonne. Nora Buli, reporting from Oslo; editing by Shreya biswas

(source: Reuters)