Oct 7 (Reuters) - Dutch and British wholesale gas prices on
Thursday extended sharp losses from the previous day,
responding to comments from Russian leaders who offered to
increase supplies to help to stabilise the gas market.
* The November gas price at the Dutch TTF hub, a European
benchmark, fell by 12.50 euros to 101.50 euros per
megawatt hour by 0925 GMT. It earlier traded as low as 82.75
euros per megawatt hour
* On Wednesday, the price had swung as much as 55 euros,
dropping
from a record high of 155 euros per megawatt hour.
* Dutch day-ahead gas was down 4.20 euros at
96.10
euros per megawatt hour.
* The British day-ahead contract was down 1.50
pounds
at 2.30 pounds per therm, after earlier trading as low as 2.15
pounds/therm.
* "Comments from Vladimir Putin appear to have provided some
comfort to the market," analysts at ING said in a morning note.
* The Russian president said Russia would be willing to help
stabilise gas markets.
* "This, however, may depend on a quick approval of Nord
Stream
2," ING said.
* Work on the new pipeline running on the bed of the Baltic
Sea
from Russia to Germany, is completed but a German certification
allowing it to operate is not expected for a few months.
* There might also be potential for further auctions of gas
on the
electronic sales platform Gazprom operates, a trader said.
* Another trader said there were different forces at play
given
the strong volatility, such as margin calls and stop outs
forcing people to exit positions.
* There was also more liquefied natural gas (LNG) coming
into
northwest Europe now, he added.
* The benchmark Dec-21 EU carbon contract was up
0.30
euros at 59.42 euros per tonne.
* The benchmark Dec-21 British carbon contract was
up
0.52 pounds at 61.00 pounds a tonne.
* European coal API2 coal futures for 2022 were
down
$56 at $126/tonne.
* From a fundamental perspective, the UK system was 20
million
cubic metres (mcm) oversupplied on Thursday, National Grid data
showed.
* In the UK, peak wind power output will drop from 7.5 GW on
Thursday to 5.2 GW on Friday, Elexon data showed.
(Reporting by Nora Buli in Oslo
Editing by David Goodman and Jane Merriman)