Dutch and British wholesale prices rose slightly but were confined to a narrow rangeon Monday morning amid lower demand, mild weather forecast and the return of Norwegian production following a heavy maintenance schedule.

The benchmark front-month contract at the Dutch TTF hub TRNLTTFMc1 edged up by 0.87 euro to 40.22 euros per megawatt hour (MWh) by 0934 GMT, LSEG data showed.

The December contract TRNLTTFMc2 was 0.25 euro higher at 40.00 euros/MWh.

In the British market, the day-ahead contract TRGBNBPD1 was up 2.25 pence at 98.50 pence per therm.

“The warmer forecast should provide the main impact for today and result in bearish sentiment,” LSEG analyst Ulrich Weber said in a morning note.
Average temperaturein Northwest Europe is 4 degrees Celsiusabove the seasonal norm and weather is expected to remain on the mild side through the end of October, LSEG data showed.
After several weeks of maintenance, the Norwegian gas output is back to normal levels.

The rising trend of Norwegian gas supply during the past couple of weeks is likely to continue, LSEG’s Weber said.

“WithOseberg’s return, flows are as high as in mid-August,before the main maintenance phase on the Norwegian Continental Shelf had started. The next improvement to flows can be expected during next weekend.”

Flows from terminals that import liquefied natural gas (LNG) in northwest Europe rose to the highest levels since April, said Daniel Hynes, senior commodity strategist at ANZ.

In the European carbon market CFI2Zc1, the benchmark contract was up 0.36 euro at 62.64 euros a metric ton.
Source: Reuters (Reporting by Marwa Rashad; Editing by Eileen Soreng)