Dutch and British wholesale gas prices continued to fall on Thursday morning on ample supply, weak demand and as a ceasefire between Israel and Iran appeared to be holding.

The benchmark Dutch front-month contract at the TTF hub (TRNLTTFMc1) inched down by 0.73 euro to 34.65 euros per megawatt hour (MWh) by 0857 GMT, while the August contract was 0.77 euro lower at 35.13 euros/MWh.

The British front-month contract (TRGBNBPMc1) was down 1.83 pence at 80.80 pence per therm.

Norwegian exports have risen to continental Europe and demand for gas from power plants has fallen for tomorrow and the weekend as wind and solar generation remain well above seasonal norms this week, said LSEG gas analyst Oleh Skrynyk.

Wind and solar generation are expected to return to normal levels next week.

North-west Europe send-out is expected to decrease as French terminals are undergoing planned maintenance this week.

U.S. President Donald Trump has hailed the swift end to the air war between Iran and Israel and said Washington would likely seek a commitment from Tehran to end its nuclear ambitions at talks with Iranian officials next week.

Meanwhile, Slovakia will not support a new European Union sanctions package on Russia on Friday and will demand a delay in the vote until Slovak concerns over gas supplies after 2027 are resolved, Prime Minister Robert Fico said on Thursday.

In the European carbon market, the benchmark contract (CFI2Zc1) was down 0.66 euro at 70.49 euros a metric ton.
Source: Reuters