May 5 (Reuters) - Dutch wholesale gas prices eased on Monday, although cooler weather, lower renewable power generation and potential Asian liquefied natural gas demand lent some support.
The benchmark Dutch front-month contract TRNLTTFMc1 was down 0.47 euro at 32.70 euros per megawatt hour (MWh), or $/10.98 mmBtu, at 0838 GMT, according to LSEG data.
The British market is closed due to a holiday, muting overall trading activity, while wider sentiment may follow a drop in oil prices.
Dutch prices were down a touch, but the market is still hesitant about the price direction, analysts at Engie EnergyScan said in a report.
Cooler temperatures and lower renewable energy output this week should support gas demand for heating and power generation, they said.
The analyst also noted a report by Bloomberg that Chinese LNG buyers had resumed spot buying of cargoes as prices have fallen recently.
"If these purchases are confirmed, they would clearly lend support to prices," they added.
Europe and Asia compete for cargoes in the global market.
European Union gas storage facilities are now 40.74% full, according to Gas Infrastructure Europe.
Storage injections have surged since the end of April, rising 70% compared to the same period a year ago, Greg Molnar, a gas analyst at the International Energy Agency, said in a post on LinkedIn.
This put the EU on track to reach its 80-90% filling target by the beginning of the next heating season, but depended on sufficient LNG coming to Europe, Chinese demand for the super-chilled fuel and European gas-for-power consumption, he added.
Meanwhile, the EU will on Tuesday announce a roadmap to phase out its remaining gas ties with Moscow, which it has pledged to end by 2027, although legal options to do so are limited.
In the European carbon market, the benchmark contract CFI2Zc1 fell 0.51 euro to 68.23 euros per metric ton.
(Reporting by Nora Buli in Oslo. Editing by Mark Potter)
((Nora.Buli@thomsonreuters.com; (+47) 21 04 05 56; Reuters Messaging: nora.buli.thomsonreuters.com@reuters.net))
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