Europe & Russia Price trends

Weak demand has pressured European hub prices, but February’s cold weather is offering demand-side support.

The NBP month-ahead dipped to roughly 47.6 p/th in January under pressure from weak demand after having been around 55-56 p/th at the start of the month. Average-to-above-average temperatures dominated in much of the UK and Europe during January, limiting weather-related gas use during the month and weighing on prices in the UK. The TTF month-ahead also fell, starting January at around 51 p/th and dropping to around 44-45 p/th by...