Prices correct lower after Monday's price surge

June 6 (Reuters) - Wholesale Dutch and British natural gas prices eased on Tuesday morning, after strong gains in the previous session led by concerns about growing competition for liquefied natural gas (LNG) supply and despite comfortable storage levels.

The Dutch gas front-month contract fell by 2.08 euros to 27.15 euros per megawatt hour (MWh) by 0839 GMT, Refinitiv Eikon data showed.

On Monday, the contract jumped 5.85 euros, or 25%, to hit hits its highest levels since May 25.

Prices jumped amid signs that LNG demand in Asia is ramping up, requiring Europe to raise prices as well in order to continue to attract LNG, analysts at Energi Danmark said in a morning note.

A further rise in coal prices, which increased the level at which it makes sense to switch from coal to gas-fired power generation to 26.41 euros/MWh, had also offered upside potential, analysts at Engie EnergyScan said.

Still, spot gas fundamentals have not changed and remain comfortable, they added.

European storage were last seen almost 70% full, according to Gas Infrastructure Europe data.

"So, prices have no reason to rise above the 20-day average, and we believe they are likely to drop today below the 5-day High (28.02 euros/MWh), Engie's analysts said.

Oil prices also eased as concerns about the global economic backdrop outweighed supply worries raised when Saudi Arabia announced its biggest output cut in years.

In the British market, the day-ahead price fell by 2.50 pence to 68.00 p/therm, and the within-day contract dropped by 2.00 pence to 70 p/therm.

Norwegian gas exports as well as LNG sendouts were stable, despite a number of ongoing maintenance outages, Refinitiv analyst Tomasz Marcin Kowalski said.

Norway's Hammerfest LNG plant, which shut down following a gas leak last Wednesday, is scheduled to resume operations on Wednesday.

In the European carbon market, the benchmark contract inched up by 0.08 euro to 82.56 euros a tonne.