Return of mild temperatures forces down Euro hub prices

Above-average temperatures have swept across most of Europe over the past week, bringing to an end a period of colder weather. Higher demand – bolstered by heating-related consumption – had been providing a floor to hub prices, but the mild temperatures have eroded it. The NBP day-ahead dropped below 30 p/th ($4.30/MMBtu) last week and has been around 29-30 p/th since the start of this week. The TTF day-ahead fell to 28 p/th on Monday before rising to 29 p/th on Tuesday. Day-ahead prices at other European hubs have seen similar declines over the past week.