Prices edge down as mild weather, storage offsets lower Norway flows

April 14 (Reuters) - British and Dutch wholesale gas prices eased on Friday morning amid mild weather forecasts and as well-filled storages helped to offset outages at Norwegian production sites.

The British within-day contract was down 1.00 pence at 100.00 pence per therm by 0844 GMT and the weekend price eased by 1.50 pence to 98.00 pence/therm, according to Refinitiv Eikon data.

The Dutch weekend contract fell by 1.55 euros to 42.00 euros per megawatt hour (MWh) and the Dutch May price was down 0.80 euro at 41.05 euros/MWh.

"The market continues to receive mixed signals amid near-term supply issues, which is offset by mild weather forecasts and high storage levels following the mild winter," analysts at Energi Danmark said in their morning report.

Temperatures will gradually rise in from Monday, reaching 3-5 degrees Celsius above normal at the end of next week, with a high pressure system bringing dry, calm and frequently sunny conditions, Refinitiv meteorologist Marcin Gorski said.

However, temperatures are set to turn colder again for the last week of April, he added.

European gas storages were last seen 56.1% full, according to Gas Infrastructure Europe data.

Meanwhile, the increase of gas supply from French liquefied natural gas (LNG) terminals DunKIRK and Montoir following strike-related curtailments were bearish factors, although a risk of strike extensions remains, Refinitiv gas analyst Marina Tsygankova said in a morning report.

The closure of Germany's last three nuclear reactors on Saturday, reducing power supply, as well as Norwegian gas infrastructure maintenance, which should mostly impact flows to Britain, provided some price support, however, she added.

The impact of Norwegian maintenance outages should keep British prices at just over 100 pence/therm, a trader said.

In the European carbon market, the benchmark contract inched up by 0.16 euro to 94.61 euros a tonne.

National Grid