The Dutch TTF hub day-ahead natural gas contract reached its highest level since October 18, trading at 100.00 EUR/MWh, with the latest increase of 11.50 EUR, Montel-Foreks reported.
Traded at 101.82 EUR/MWh during the day, the TTF December natural gas contract made its latest transaction at 99.80 EUR/MWh with an increase of 5.61 EUR.
UK NBP hub spot gas contract is up 16.00p to 240.00 p/th, latest today; The NBP December contract, on the other hand, increased 11.09 p.m. to 251.00 p/th.
A trader states that after the German Federal Network Regulator BNA's announcement yesterday, a little more time is needed to understand what the news about Nord Stream 2 means.
Market participants are focusing on the possibility that Nord Stream 2 may not launch this winter as originally thought. “Some people are still hoping for the line to start operating by February, but at this point it seems pretty optimistic to me,” one analyst said.
According to Montel Energy Quantified data, temperatures will also drop next week and will be 4.9 °C below normal levels on some days. The analyst said, “Prices may rise. But there also seems to be a lot of loss of demand from industries at the level of 100.00 EUR/MWh”.
Some energy-intensive firms have recently reduced their production due to the energy price crisis caused by high demand and limited supply.
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