Dutch and British gas prices were steady on Friday morning on a comfortable supply-demand balance and amid easing supply concerns as more tankers cross the Strait of Hormuz, even though a cargo vessel was hit near Oman on Thursday.
The benchmark Dutch front-month contract at the TTF hub was flat at €40.36 per megawatt hour (MWh) or around $13.38/mmBtu, by 08:23 GMT, ICE data showed.
The British front-month contract was up 0.37p at 96.89p per therm.
"Market attention remains firmly focused on developments in the Strait of Hormuz and the pace at which Middle Eastern LNG exports continue to recover, both of which will be key determinants of whether the remaining geopolitical risk premium can unwind further in the weeks ahead," said LSEG analyst Yuriy Onyshkiv.
The UN International Maritime Organisation paused its operation to escort ships through the Strait of Hormuz on Thursday after a vessel reported an attack, reigniting concerns about whether a preliminary deal to end the Iran war will hold.
Two US officials told Reuters that Iran had fired on the ship, while Iran's Persian Gulf Strait Authority, which Tehran established to manage requests for ships to travel through the strait, said vessels outside routes it has set will not be guaranteed safe passage.
From a fundamental perspective, supply remains comfortable, with both Norwegian pipeline flows and LNG imports holding at high levels, while demand is forecast to remain broadly unchanged, LSEG data showed.
Britain's National Energy System Operator issued an electricity margin notice for Friday evening, asking generators to make more power available as high temperatures led to increased demand.
Britain's gas market was oversupplied with supply forecast at 154.8 million cubic metres and demand forecast at 145.2 mcm, National Gas data showed.
(Reporting by Marwa Rashad; Editing by Susanna Twidale)