European hub prices dip as withdrawal rates ease

The NBP day-ahead was down to around 28.5 p/th ($4.03/MMBtu) on Tuesday after reaching over 30 p/th last week. Demand is expected to be around 20% higher than seasonal norms on Wednesday, according to the forecast from UK transmission system operator National Grid. However, the system is expected to remain well balanced because of continued strong supply. This includes LNG cargoes that are scheduled to be delivered to the UK’s South Hook terminal.