Gas prices at the Dutch and German markets fell further Tuesday, on both the prompt and curve, despite continuing colder-than-average temperatures and rising oil, as piped imports remained stable and weather forecasts showed a return to seasonal temperatures by the start of next week.
At midday UK time, the Dutch TTF contract was seen 30 euro cent down from Monday's assessment to Eur27.70/MWh, while at the neighboring German NetConnect hub it was down by 15 euro cent, trading at Eur27.75/MWh.
At the German GASPOOL, gas for Wednesday delivery was changing hands at Eur27.80/MWh, down by 25 euro cent.
The TTF January contract was down by 15 euro cent, trading at Eur27.60/MWh.
Gassco data showed that, at 1200 GMT, Norwegian flows into the Dutch and German system were stable on the day at 122 million cubic meters.
According to forecaster CustomWeather, temperatures in Germany and the Benelux region were set to remain below seasonal averages during the rest of the week, with -3/-6 degrees Celsius predicted for Berlin on Friday and 3/-3 degrees C for Amsterdam. However, temperatures should return to or just above normal by Monday, with 9/3 degrees predicted for Amsterdam on Monday and 6/2 degrees C for Frankfurt, which should ease demand.
Later dated TTF contracts also fell further, despite January Brent crude trading 61 cents higher at $107.94/barrel.
Front-quarter gas was down by 20 euro cent at Eur27.50/MWh, as was the Cal 13 contract, seen at Eur27.10/MWh.
The Summer 13 contract was changing hands at Eur26.50/MWh, down by 10 euro cent from Monday.
