Prices mixed amid softer demand, warmer weather

LONDON, May 13 - Dutch and British wholesale gas prices were mixed on Monday morning amid a comfortable supply/demand balance with warmer weather curbing demand and allowing storage injections.

The benchmark front-month contract at the Dutch TTF hub inched up by 0.15 euro to 30.00 euros per megawatt hour (MWh) by 0845 GMT, while the July contract was up by 0.19 euro at 30.14 euros/MWh, LSEG data showed.

In the British market, the front-month price fell by 0.95 pence at 72.00 pence per therm.

"Temperatures are now expected to fall slightly, albeit holding above seasonal normal for the weeks ahead. No real change to the underlying outlook which remains positive with continued sensitivity to global events," consultancy Auxilione said in a morning note.

LSEG data showed that temperatures across Europe and in Britain will be slightly lower, but still above normal.

"The bearish fundamental picture suggests storage injections are back on a healthy refilling trajectory" said LSEG analyst Yuriy Onyshkiv.

European gas storage facilities were last seen 64.7% full, according to Gas Infrastructure Europe (GIE) data.

"Loose Northwest Europe balance has weakened demand for LNG (liquefied natural gas prices) cargoes, diminishing the impact of some of the bullish signals on the global LNG market emanating from southeast Asia earlier last week," Onyshkiv added.

Asian spot LNG prices rose to $10.50 per million British thermal units (mmBtu) on stronger demand amid high temperatures in north and south China.

In the European carbon market, the benchmark contract was 1.65 euros down at 70.26 euros per metric ton. (Reporting By Marwa Rashad; Editing by Susanna Twidale)