Oct 6 (Reuters) - Dutch and British wholesale gas prices
extended record highs on Wednesday morning, in line with
rallying energy markets, and as forecasts of lower wind and
cooler weather lift demand and supply remains scarce.
* The November gas price at the Dutch TTF hub, a European
benchmark, rose by 25.60 euros to 143.10 euros per
megawatt hour by 0839 GMT. It earlier traded at a record 155.00
euros per megawatt hours.
* The British day-ahead contract was up 0.61
pounds at
3.40 pounds per therm, and also a new record high.
* "It's amazing what we are looking at. Total craziness," a
gas
trader said.
* Power markets were taking the lead, with German baseload
for
Thursday delivery touching 400 euros per megawatt hour
earlier on Wednesday, he added.
* German wind power supply will plunge by 13.5 gigawatt (GW)
to
average only 2 GW on Thursday, Refinitiv analysts said.
* In the UK, peak wind power output will drop from 12.5 GW
on
Wednesday to 7.6 GW on Thursday, Elexon data showed.
* "A big theme for gas is that we might need withdrawals
next week
due to colder weather... but of course nothing justifies these
moves," the trader said.
* "Tomorrow through Sunday will be mostly sunny and dry with
near
normal temperatures. The first half of the next week will be
cloudier and cooler with showers. Temperatures will be below
normal," Refinitiv meteorologist Georg Mueller said.
* UK storage levels were 100% full on Wednesday, according
to Gas
Infrastructure Europe data.
* European gas prices were also supported by ongoing
concerns
about supply scarcity, analysts at Engie Energyscan said.
* Pipeline deliveries from Russia have been lower since the
summer
while Asian liquefied natural gas (LNG) spot prices climbed to a
record high of nearly $40 per million British thermal units
(mmBtu) on Tuesday.
* The benchmark Dec-21 EU carbon contract was down
2.71
euroS at 62.01 euros per tonne.
* The benchmark Dec-21 British carbon contract was
down
0.90 pounds at 68.50 pounds a tonne.
(Reporting by Nora Buli in Oslo; Editing by Nina Chestney)