European hub prices boosted as maintenance cuts supplies

The NBP day-ahead has averaged around 35 p/th ($5.09/MMBtu) over the past week, a sizeable jump from the 31 p/th average seen over the previous week. Similar increases in day-ahead hub prices were also seen on the continent over the period. The TTF was around 34 p/th on Tuesday, up by 4 p/th from the previous week. On the demand side, unseasonably cold weather in parts of Europe supported consumption as people turned their heating back on. The UK also saw continued increases in gas demand from the power sector, while the start of maintenance in the North Sea hit supply levels – helping to create a tighter market.