Thursday 13 July 2017
With gas demand falling below the seasonal norm, the UK gas system enjoyed a positive supply‐demand balance throughout the trading day yesterday. The coincidence
of a rise in Langeled deliveries and a restriction on exports via the Belgian interconnector left the system in surplus and prompt gas prices fell again as a result. The spot price fell by 1.65p and day ahead by 0.45p but futures contracts moved only marginally higher right along the curve. Overnight losses on the oil market were reversed as crude oil gained for a fourth straight session this week as the IEA predicted higher demand.