Dutch and British gas prices experienced a decline on Monday morning, influenced by forecasts indicating milder temperatures from mid-December and well-filled gas storages. The Dutch December contract dropped to 43.90 euros per megawatt hour (MWh), while the Dutch January contract was down at 44.95 euros/MWh. In Britain, the December contract decreased to 113.25 pence per therm. The dip in prices is attributed to an upward revision in temperatures compared to the previous Friday. Despite the current cold spell, the long-term weather forecast anticipates a return to seasonal normal temperatures by the end of the second week of December. European gas storage inventories remain at a record 97.7% full for this time of year. Prompt prices also traded lower, balancing increased demand due to cold weather with a steady supply of Norwegian pipeline gas and liquefied natural gas (LNG) shipments. In the carbon market, the benchmark contract fell to 75.22 euros per metric ton.

SOURCE: GOOGLE