Archived Summaries

Friday 17th  August 2012
Market Opening
This morning The UK gas system is comfortable this morning with forecast supplies of 169 MCM just ahead of demand at 168 MCM.  The make up of supply is much the same as we saw on Thursday with LNG continuing to be the dominant provider.  Send out from the LNG plant at Milford Haven, South Hook, remains strong at just below 45 MCM, while Norwegian imports from Langeled and Vesterled total just over 27 MCM.  After yesterday's strong losses on the prompt market, prices have rebounded this morning on all contracts save for the weekend which is down 0.65p at 50.50p.  The within-day and day-ahead products have added 1.20p and 1.55p, last trading at 51.50p and 52.75p respectively.  On the curve, price increases have been more moderate, with gains on the near months getting up to 0.50p and September last trading at 55.90p.  The front season last traded at 65.80p, up 0.37p, while Summer 13 has added 0.25p.  In the oil markets prices have softened this morning, with Brent down by $1.23 at $114.04 a barrel for October, the new front month on the European benchmark.  On Nymex, the front month, September, has traded in a tight range of $94.95 to $95.48 a barrel and is currently trading down by 31 cents at $95.29 a barrel.