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Gas eyes 20% weekly loss on supply outlook

CarbonCoalGas

26 May 2023 14:01

26 May 2023 14:01

(Montel) European gas prices were on track to close 20% lower on the week, pressured by an increasing comfortable supply outlook that included growing storage stocks and forecasts for greater renewables generation. 

The benchmark Dutch TTF front-month contract fell to a two-year low of EUR 23.70/MWh and was last seen down EUR 1.39 on the day at EUR 24.06/MWh on Ice Endex. 

In the UK, the front month last traded down 1.73p at 56.85pth, after earlier falling to 55.14p/th, the lowest level since 28 April 2021.

 
This week marked the biggest weekly drop in prices in 16 years,…

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