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Home Archived Summaries27 April 2017 Market Open

Archived Summaries

Thursday 27 April 2017
Market Open
UK gas demand has fallen back below the 300MCM this morning mark and is currently being forecast at 287MCM. The system is displaying

a small deficit of just 5 MCM but storage supplies are ramping up so the deficit is not an issue. There is some downward pressure on prompt gas prices with the spot trading down by 0.30p and day ahead gas changing hands at 41.15p, down by 0.10p. The gas futures market is moving in the opposite direction as currency movements play a key role here. The front month contract has added 0.50p while contracts further out are up by between 0.25p and 0.30p. Crude oil is extending losses from yesterday's market and Brent is now priced at $51.23.

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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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