EUROPE GAS-Prices rangebound on stable supply and demand

LONDON, Aug 6 (Reuters) - Dutch and British wholesale gas prices fell slightly early on Wednesday but were still trading in a narrow range as supply from Norway edged higher and demand was stable.

The benchmark Dutch front-month contract at the TTF hub TRNLTTFMc1 was down 0.33 euro at 34.00 euros per megawatt hour (MWh) or $11.54/mmBtu, by 0811 GMT, LSEG data showed.

The Dutch October contract TRNLTTFMc2 was down 0.4 euro at 34.54 euros/MWh.

The British front-month gas price TRGBNBPMc1 was down 0.74 pence at 83.95 pence per therm.

“The market remains rangebound, with no major shifts in sentiment or fundamentals,” LSEG analyst Oleh Skrynyk said in a daily research note.

Flows from Norway edged higher, with total exports at 343 million cubic metres per day (mcm/d) up 6 mcm/d from Tuesday evening, LSEG data showed.

Analysts at Mind Energy said the market is facing mixed signals.

“Demand is right now low due to mild and windy weather in Northern Europe, and LNG imports are also currently solid,” analysts at Mind Energy said in a daily market report.

“On the other hand, the market is concerned about if new potential sanctions against Russia from the U.S. and EU could lead to a supply squeeze which would drive up prices,” the analysts said.

U.S. President Donald Trump has threatened to hit Russia with new sanctions and impose harsh tariffs on countries that buy its oil - of which the biggest are China and India - unless Russia takes steps to end its war with Ukraine.

In the European carbon market, the benchmark contract CFI2Zc1 was down 0.35 euro at 71.24 euros a metric ton.