Dutch and British wholesale gas prices were little changed and trading in a narrow range on Friday morning as strong supply and forecasts for milder weather were expected to boost inventories.

The benchmark Dutch front-month contract at the TTF hub was up 0.20 euro at 31.50 euros per megawatt hour (MWh), or $10.83/mmBtu, by 0914 GMT, LSEG data showed.

The Dutch day-ahead contract was up 0.33 euro at 31.13 euros/MWh.

The British November gas price was up 0.66 pence at 80.50 pence per therm.

Temperatures across Northwest Europe are expected to rise over the weekend, with the day ahead seen 2.1 degrees Celsius warmer than the average for this time of year.

The wind power generation outlook is also strong with windy conditions over the weekend until next Tuesday, LSEG data showed.

Total Norwegian export nominations rose by 14 million cubic meters per day to 324 mcm/d after some maintenance work at Troll’s gas fields ended.

“EU storage levels have reached 82.57%, down by 12% from this period last year, but is on track to achieve the 90% winter storage target by 1st December 2025,” analysts at Northern Gas and Power said in a morning note.

“Gassco, operator of the Norwegian gas transport system, is expecting their gas delivery levels to remain high this winter after a successful maintenance period, reducing the risk of a supply shock to Europe or sharp withdrawals to the continent’s current storage levels,” they added.

In the European carbon market, the benchmark contract (CFI2Zc1) was up 1.52 euro at 78.95 euros a metric ton.
Source: Reuters