NORDIC POWER-Forward prices fall to one-week low on wet weather outlook

- Nordic forward power prices fell to a more than one-week low on Tuesday, pressured by forecasts of a wetter weather outlook in the hydro-reliant region.

* The Nordic front-quarter baseload power contract NSBLQc1 was down €2.55, or 4.4%, at €54.9 per megawatt hour (MWh) at 1133 GMT, after hitting its lowest level since May 27 earlier in the session.

* The Nordic front-year power contract NSBLYc1 lost €0.4, or 0.7%, to €49.5 per MWh, its lowest level since May 29.

* "We expect price falls as the forecasts look wetter next week," Mind Energy analysts said in a note.

* "The remainder of this week still appears quite wet, but the change from yesterday is that there now appears to be more rain underway next week than previously anticipated. As a result, the outlook appears bearish for the Nordic power market today."

* Nordic water reserves PCAEC00 were at 18.13 terawatt hours (TWh) below normal, compared with 21.61 TWh below normal on Monday.

* "The next few days until the weekend will be generally cloudy with frequent rain or showers. Amounts will be mostly above normal," LSEG meteorologist George Muller said.

* Benchmark Dutch and British wholesale gas prices traded in a narrow range on Tuesday morning after Iran and Israel said they had halted attacks on each other following an appeal from U.S. President Donald Trump, though both sides warned they could resume hostilities.NG/EU

* Power prices for Germany's year-ahead contract TRDEBYc1, Europe's benchmark, lost €0.3, or 0.3%, to €94.70 per megawatt hour (MWh).

* Carbon front-year allowances CFI2Zc1 lost €1.1, or 1.4%, to €75.86 a ton.