(Montel) European front-month gas prices extended losses on Monday, hitting a one-week low, as mild and windy weather contributed to muted demand for power generation.
The benchmark front-month contract on the Dutch TTF hub was last seen down EUR 9.98 at EUR 178.83/MWh on Ice Endex. Earlier it had fallen to EUR 176/MWh – a one-week low on a rolling front-month basis.
In the UK, the NBP equivalent was 27.89p lower at 325p/th (EUR 125.59/MWh) on Ice.
Market observers cited “well-filled gas stocks” and “milder weather next week” as the main bearish factors…