Europe gas prices dip on renewed peace talk hopes, stronger supply
UNG•Dutch and British front-month gas prices fell Thursday morning, with the Dutch contract down €4.105 to €96.615 per megawatt hour as hopes for peace talks revived and Norwegian flows rose.
1. Prices retreat
The Dutch front-month contract at the TTF hub fell €4.105 to €96.615 per megawatt hour by 0916 GMT, after touching €100 on Wednesday for the first time since December 2022. The British front-month contract dropped 11.67 pence to 237.06 pence per therm.
2. Supply and market factors
Norwegian exports rose 9 million cubic metres from the previous day to 337 million cubic metres per day as flows improved slightly following outages. Analysts also cited reports of renewed peace-talk efforts and technical selling; the Dutch contract’s relative strength index was above 70 on Wednesday.
