Europe gas prices rise as stalled US-Iran talks dim Hormuz hopes
XLE•Gas prices rise on fading hopes for Hormuz opening
LONDON, Aug 17 (Reuters) - Dutch and British gas prices rose on Monday morning as hopes for opening the Strait of Hormuz fade as stalled US-Iran talks signal prolonged conflict.
The benchmark Dutch front-month contract at the TTF hub TFMBMc1 was up €0.84 at €62.27 per megawatt hour (MWh) or around $21.19/mmBtu, by 0825 GMT, ICE data showed.
The British front-month contract NGLNMc1 was up 2.38 pence at 153.61 pence per therm.
Weather, supply and nuclear output could limit gains
Temperatures across north-west Europe are forecast to adjust significantly lower for the upcoming 15 days, LSEG data showed.
Norwegian production for north-west Europe, LNG sendout and gas for power demand are all little changed, while residential demand for heating over next week's working days is seen higher due to cooler weather.
Strong recovery in French nuclear availability into next week should, however, offset most of the temperature induced ramp-up, Jussila said.
In the European carbon market, the benchmark contract <CFI2Zc1> edged down by €0.27 to €81.52 a metric ton.
Talks remain stalled and LNG transits are seen as unlikely
Over the weekend, Iranian Foreign Minister Abbas Araqchi said Iran had not decided to resume talks with the U.S. while U.S. President Donald Trump urged Americans to accept slightly higher gasoline prices while the conflict continues.
"With the US showing little sign of relenting on its demand that the waterway be free from Iranian control, the return of LNG tankers transiting the waterway will remain elusive," said Daniel Hynes, senior commodity strategist at ANZ.
