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Infographic: Downside risk if gas supply rebounds, demand recovery falters - Q3 2020

European gas, power and carbon markets saw price support in June as economies began to emerge from coronavirus lockdowns. Any faltering in demand or rebound in gas flows, however, could undermine these trends going into Q3 2020, while carbon's rally looks at odds with fundamentals.

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After gas prices dropped to record lows in Q2, the most telling factor in determining the supply-demand balance in Q3 is likely to be storage dynamics. European power demand is set to remain subdued, but poor French nuclear availability has prompted a recovery in prices.

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Q3 2020: DOWNSIDE RISK IF GAS SUPPLY REBOUNDS, DEMAND RECOVERY FALTERS