Dutch and British wholesale gas prices were trading in a narrow range on Friday morning due to healthy supply and stronger wind output forecasts.

The benchmark Dutch contract for August delivery at the TTF hub (TRNLTTFMc1) edged up by 0.08 euro to 33.83 euros per megawatt hour (MWh) by 0844 GMT, according to LSEG data.

The weekend contract was up 0.43 euro at 33.08 euros/MWh.

The British contract for August (TRGBNBPMc1) inched down by 0.50 pence to 80.10 pence per therm.

Wind power generation looks stronger at the beginning of next week especially on Tuesday, while solar output should be weaker, LSEG data showed.

Temperatures at the end of next week are forecast to rise again, driving demand for power for cooling and wind output will fall.

“This could develop into a minor bullish trigger,” said Ulrich Weber, gas analyst at LSEG.

Total Norwegian export nominations are up by 7 million cubic metres (mcm) at 323 mcm/day on Friday as the impact of an outage at the Troll field was reduced.

In the European carbon market, the benchmark contract (CFI2Zc1) was down 0.65 euro at 71.41 euros per metric ton.
Source: Reuters