Sentiment turns bullish, despite bearish fundamentals
Europe’s gas hubs saw no major change in price movements last week. Steady inflows of LNG to the UK have led to oversupply, which in turn has weighed on spot prices Europe’s gas hubs saw no major change in price movements last week. Steady inflows of LNG to the UK have led to oversupply, which in turn has weighed on spot prices.
21 July 2014
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Renewed geopolitical risks between Russia and Ukraine provided support to short-term prices at European hubs over the past week, a trend expected to continue if the situation persists. Greater interest was given to gas deliveries for winter, as risks related to transit flows through Ukraine have not disappeared.
At the NBP, Europe’s most liquid hub, the day-ahead price gained ground amid increased buying activity, including from the power sector. The spot contract has averaged 37.66 p/th over the past week, compared with 35.32 p/th during the...
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