Benchmark British and Dutch wholesale gas prices fell about 9% on Monday as weather forecasts showed warmer temperatures than previously expected, and technical selling weighed on the market as it retraced from a near seven-month high hit on Friday.

The benchmark Dutch front-month contract at the TTF hub (TRNLTTFMc1) was down 3.54 euros at 33.90 euros per megawatt hour (MWh) or $11.54 /mmBtu, by 0916 GMT, data compiled by LSEG showed.

The contract touched an intraday high of 38.00 euros/MWh on Friday, its highest level since June 2025.

On Monday, the Dutch March price (TRNLTTFMc2) was down 3.39 euros to 35.88 euros/MWh.

The British day-ahead contract (TRGBNBPD1) was down 9.1 pence at 100.1 p/therm.

Although temperatures are expected to decrease from current levels “temperature forecasts have been revised upward for this week,” analysts at Energy Scan said in a daily research note.

Technical selling was also putting pressure on prices. The relative strength index (RSI) of the Dutch-front-month contract rose to over 70 at the end of the week, according to LSEG data, a technical threshold indicating that a stock or commodity may be due for a downward correction.

The session’s price fall pushed the RSI below 70, at around 62, LSEG data showed.

In Britain, strong wind speeds are also expected to curb gas demand.

“(In Britain) The wind power forecast has improved significantly for this week and is now expected above the normal level,” LSEG analyst Saku Jussila said in a daily research note.

Peak wind power in Britain was forecast to rise to 19.7 gigawatts on Tuesday from 11.6 GW on Monday, Elexon data showed.

In the European carbon market, the benchmark contract (CFI2Zc1) was down 2.41 euros at 89.63 euros a metric ton.
Source: Reuters