Gas prices in the UK are rising against the backdrop of a cold snap, in the Netherlands are declining

LONDON, Jan 13 (Reuters) – European gas prices were mixed on Friday, with UK commodity prices rising on cold weather, while prices in the Netherlands fell on comfortable supply.

Front gas futures in the Dutch TTF hub by 14:08 Moscow time fell by 2.75% to 65.5 euros per megawatt-hour. The price of gas calculated “tomorrow” on TTF by 13:56 Moscow time reduced 0.39% to 64.25 euros per megawatt-hour.

The cost of gas with settlements “tomorrow” in the UK by 13:25 Moscow time increased by 1.85% to 165 pence per therm, with “immediate delivery” by 13:33 Moscow time – fell by 0.6% to 165 pence per therm.

The British February contract rose 1.48% to 171 pence a term.

“Colder weather is on the horizon for next week. The wind speed will also slow down, but going forward (along the entire data curve) fundamentals remain comfortable,” the trader said.

Temperatures in the UK and northwestern Europe will drop towards the end of the week and over the weekend, according to Refinitiv Eikon data, which should boost heating demand.

The high wind speeds seen last week are also forecast to drop slightly in the coming days, but still be above the seasonal norm. Strong winds usually reduce the demand for gas from power plants. The original message in English is available by code

(Nina Chestney)


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