Continental European prompt gas contracts posted modest gains on Thursday by midday on forecasts for cooler temperatures, while the forward curve was stable to firm on bullish sentiment.
Day-ahead gas prices on the Dutch TTF trading hub rose to Eur24.90/MWh, up 25 euro cent from Wednesday's close, while gas for next day delivery on Germany's NetConnect was pegged at Eur24.90/MWh, up 5 euro cent on the day.
On the neighboring German hub, the GASPOOL day-ahead gas contract changed hands at Eur25.00/MWh, adding 15 euro cent from the previous day.
CustomWeather expects temperatures in Amsterdam, Berlin, Paris and other parts of Europe to drop slightly below the seasonal average for this time of the year.
The forecaster said the temperature in Amsterdam is likely to fall 1 degree Celsius below the high/low of 21/12 C, while Paris could be 3-4 deg C below the high/low of 23/14 deg C early next week.
Forward curve contracts turned higher on Thursday after closing lower Wednesday as bullish crude fundamentals buoyed investor sentiment.
At 1035 GMT, October ICE Brent crude was up $1.27 at $116.18/barrel on a weaker dollar.
The TTF September gas contract was trading at Eur25.25/MWh, up 10 euro cent from the previous close, while gas for Winter 12 delivery also rose by the same amount to trade at Eur27.90/MWh.
The Cal 13 gas price remained unchanged on the day at Eur27.70/MWh.
