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Home Archived Summaries24 April 2017 Market Open

Archived Summaries

Monday 24 April 2017
Market Open
The UK gas market has opened higher again this morning as temperatures drop to 2 degrees below the seasonal norm and are forecast

to remain low for most of the week. The UK gas system remains well supplied despite above average demand and within day gas is only marginally up on Friday's closing level. The day ahead contract is up by 1.10p to top 40.00p for the first time since the beginning of the month. The front month has also moved above the 40.00p mark in a general rise in futures prices which has seen seasonal contracts for Winter 2017 out to Winter 2018 up by around 0.50p. The oil markets have recovered some of Friday's losses with Brent crude trading at $52.50 a barrel.

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Market Update

Monday 06 November 2017:Crude oil prices turned sharply higher on Friday with Brent crude gaining $1.45 to settle at $62.07 while WTI gained $1.10 to $55.64 a barrel, the highest level since July 2015
Monday 06 November 2017:The market responded to the renewed commitment by Saudi Arabia and Russia to an extended period of production cuts
Monday 06 November 2017:The UK gas system was well-supplied on Friday with Norwegian deliveries up to 130MCM and the Bacton-Zeebrugge interconnector operating in import mode
Monday 06 November 2017:The day ahead contract for today gained 0.60p on forecast higher demand for today as temperatures are expected to move below the seasonal norm this week

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Daily Market Summary

Friday 03 November 2017
Market Close
Natural gas prices generally eased despite a sharp rise on crude oil markets on Friday. The day ahead contract at the NBP was the exception, gaining 0.60p on forecast higher
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Monday 06 November 2017
Market Open
Demand on the UK gas system has risen to its highest level since March and is forecast at 272MCM today. Forecast deliveries are some 10MCM long but
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