Supply & Demand

Stronger offtake supports European prices

Cooler temperatures across Europe have boosted weather-related gas consumption while storage levels have fallen in the UK Cooler temperatures across Europe have boosted weather-related gas consumption while storage levels have fallen in the UK.
By Catriona Scott 26 April 2017 0 25659

lower temperatures are supporting hub prices in Europe as weather-related consumption boosts demand.

Below-average temperatures helped increase gas consumption in the UK and on the continent at the start of the week. UK demand was 28% above seasonal norms on Monday. The NBP day-ahead was around 40.7 p/th on Tuesday, up from 39.2 p/th last week. The rise in the NBP day-ahead price pushed it back above the TTF, which was around 40.3 p/th on Tuesday. The NBP day-ahead had been below the TTF during the...