UK GAS-Prompt prices fall on increased supply, fuels support curve

March 5 (Reuters) - British wholesale gas prices for the
near-term fell on Friday morning amid increased supply, but
longer-dated contracts firmed in line with other fuels.

* The within-day contract was down by 1.15
pence at
44.25 p/therm by 1013 GMT.

* The weekend contract was 0.40 pence lower at
44.60
p/therm.

* The British gas system was over-supplied by around 16
million
cubic metres (mcm), with demand forecast at 337 mcm/day and
flows at 353 mcm/day, National Grid data showed.

* Both flows of Norwegian gas and send-out of liquefied
natural
gas (LNG) were higher day-on-day on Friday, Refinitiv data
showed.

* The April contract was 0.15 pence higher at
39.85
p/therm.

* The April gas price at the Dutch TTF hub
gained
0.29 euros to 16.17 euros per megawatt hour (MWh).

* Higher fuels and emissions prices added support further
out,
analysts said.

* "Inventory levels at the main European coal terminals are
very
low compared to normal, and high demand in Asia added to the
upside," analysts at Energi Danmark said in a morning note.

* "Our TTF summer price call remains bullish, with balances
suggesting outturn prices around the coal-to-gas fuel switch
trigger," analyst at consultancy Energy Aspects said in note.

* It would be difficult to displace all hard coal from power
generation and still have adequate gas volumes in storage by
end-October, they added.

* European storage levels are at unusually low levels and
will
need re-stocking ahead of the next winter.

* The API2 2022 European coal futures contract
was
last up 0.50 cents at $69.00 a tonne.

* Brent crude rose on Friday morning to $68.18 a
barrel.

* The benchmark Dec-21 EU carbon contract was 0.05
euro
firmer at 38.21 euros a tonne.
(Reporting by Nora Buli in Oslo; editing by Nina Chestney)