EUROPE GAS-Prices rise amid uncertainty about deal to reopen Hormuz
XLE•Benchmark European gas prices rise
LONDON, Aug 10 (Reuters) - Benchmark Dutch and British wholesale gas prices rose on Monday morning amid uncertainty about a deal to reopen the Strait of Hormuz.
The benchmark Dutch front-month contract at the TTF hub rose by €2.20 to €57.76 euros per megawatt hour (MWh) by 0739 GMT, ICE data showed.
The British front-month contract rose by 5.95 pence to 141.90 pence per therm.
Storage remains below last year; carbon falls
North-west Europe gas stocks are expected at around 277 terawatt hours (TWh) today, well below 385 TWh a year ago. There are injections into storage but inventories are forecast to be 324 TWh by the last week of September, below 446 TWh in the same period last year, LSEG gas analysts said.
In the European carbon market, the benchmark contract was down €0.54 at €82.75 per metric ton.
Hormuz tensions and weather outlook support prices
Iran said on Sunday that a deal with Oman defining new shipping lanes in the Strait of Hormuz was in its final stages but reiterated that the waterway would only reopen once the United States met other conditions.
Iranian strikes on Strait of Hormuz shipping have been coupled with increased attacks by its Yemen-based allies, the Houthis, who have targeted ships at another oil chokepoint on the other side of the Arabian Peninsula between the Red Sea and Gulf of Aden.
The group said they had attacked Saudi Aramco's Jazan refinery on Sunday, two days after the kingdom signed a defence pact with Turkey and Pakistan in response to growing regional instability from the U.S.-Israeli war on Shi'ite Iran.
Average temperatures in north-west Europe are forecast to rise this week, peaking by Friday. Gas-for-power demand is forecast 63 gigawatt hours (GWh) higher at 1,893 GWh for the day ahead as German wind output falls back below normal but strong solar output should compensate, LSEG data showed.




