XM does not provide services to residents of the United States of America.

Prices edge higher as lower LNG supply offsets weak demand



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>EUROPE GAS-Prices edge higher as lower LNG supply offsets weak demand</title></head><body>

LONDON, May 30 (Reuters) -British and Dutch gas prices edged higher on Tuesday morning as lower supplies of liquefied natural gas (LNG) offset weak demand.

The benchmark Dutch front-month contract TRNLTTFMc1 inched up by 0.28 euro to 25.13 euros per megawatt hour (MWh) by 0953 GMT according to Refinitiv Eikon data.

The equivalent front-month British contract TRGBNBPMc1 rose by 0.60 pence to 58.60 p/therm. The British within-day contract TRGBNBPWKD was up 5 pence at 61.00 p/therm.

“On the bullish side, exports from Norway remain subdued… LNG sendout (in Britain) is also down with South Hook nominating down 10 million cubic meters/day (mcm/d) today and Isle of Grain down 12mcm/d,” Refinitiv analyst Tim Crump said in a daily research note.

In Europe, supply from the France's Monitor LNG terminal was reduced to 35% of capacity on Tuesday, Crup said, with the site fully shutdown from June 3-11 for maintenance.

Traders said prices have also been buoyed by some technical buying after price falls over the past few weeks to two-year lows have left the market looking over-sold.

The relative strength index (RSI) of the Dutch-front month contract was below 30 on Tuesday morning according to Refinitiv Eikon data, a threshold indicating that a stock or commodity may be due for an upwards correction.

Gas flows from Russia via Ukraine remained stable. Russia's Gazprom GAZP.MM said on Tuesday it will ship 40.7 million cubic metres (mcm) of gas to Europe via Ukraine, the same level as on Monday.

In the European carbon market, the benchmark contract CFI2Zc1 was down 1.66 euro at 81.10 euros a tonne.


How much of Europe’s gas storage is filled https://tmsnrt.rs/3JPbVvW

Russian gas volumes to Europe https://tmsnrt.rs/3dMnW9G

British and Dutch gas prices https://tmsnrt.rs/3WLENLe


Reporting By Susanna Twidale; editing by Nina Chestney

</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.