EUROPE GAS-Prices edge lower amid peace deal uncertainty, weak demand

Gas prices dip as market weighs US-Iran peace talks, supply risks

Warmer weather reduces demand, Norwegian exports rise

Norwegian Troll field maintenance easing boosts gas supply

- European gas prices edged lower on Thursday morning as the market monitored possible peace talks between the United States and Iran and warmer temperatures curbed demand for gas.

The benchmark Dutch front-month contract at the TTF hub TFMBMc1 was down €0.55 at €48.875/per megawatt hour (MWh) or around $16.60 /mmBtu, by 0819 GMT, ICE data showed.

The contract fell about 5% on Wednesday after President Donald Trump said talks with Iran were in the final stages but also threatened further attacks if Tehran did not agree to a peace deal.

"The market is however still not really convinced that any peace agreement is right around the corner and fluctuations are still quite modest," analysts at Mind Energy said.

The British June contract NGLNMc1 was down 1.44 pence at 119.27 pence per therm, ICE data showed.

The Iran conflict has led to the near closure of the Strait of Hormuz through which roughly a fifth of the world's LNG typically passes, pressuring global gas and oil prices.

European gas supply was bolstered by an easing of maintenance at Norway’s Troll gas field while demand was curbed due to warmer temperatures.

Total Norwegian exports were up 60 million cubic metres day at 226 mcm/day, LSEG data showed.

"Average temperatures in northwest Europe are further rising, turning from cold at the beginning of this week to well above normal from today and throughout next week," LSEG analyst Ulrich Weber said in a daily research note.

In the European carbon market, the benchmark contract CFI2Zc1 was down €0.31 euro at €75.02 a metric ton.