EUROPE GAS-Prices rangebound amid thin trading, soft demand

LONDON, May 1 (Reuters) - Dutch and British wholesale gas prices traded in a narrow range on Thursday morning amid thin trading due to the Labour Day holiday in several European countries.

The benchmark Dutch front-month contract TRNLTTFMc1 was down 0.47 euro to 31.73 euros per megawatt hour (MWh), or $10.53/mmBtu, by 0845 GMT, according to LSEG data.

The British day-ahead TRGBNBPD1 contract inched down by 0.10 pence at 76.00 pence per therm.

"Our outlook today for TTF day ahead is sideways amid a stable fundamental picture with only a small decline in demand on the day-ahead (contract), while the remainder of the balance across this and next week is unchanged," LSEG analyst Yuriy Onyshkiv said.

Looking into next week, temperatures are forecast to drop sharply below normals toward early next week before getting a little warmer by the end of next week, he added.

EU gas storage facilities are now 39.21% full, according to Gas Infrastructure Europe.

"The risk associated with refilling gas inventories over the summer remains an essential driver of TTF gas prices. However, lower Chinese and Asian LNG imports and easing EU inventory requirements have removed a significant part of this risk," consultancy Global Risk Management said in a report.

In the European carbon market, the benchmark contract CFI2Zc1 edged up by 0.11 euro to 66.66 euros per metric ton.