Tuesday 12 September 2017
With demand on the UK gas system rising to within 10% of the seasonal norm today, the system remains well supplied, albeit with the help
of substantial storage withdrawals. Prompt prices at the NBP are stronger this morning with the spot and day ahead contracts both up by 0.60p. On the gas futures market, some of yesterday's strong gains have been retraced with the front month down by 0.47p and the Winter 17 contract down 0.51p. Oil prices have eased a little overnight as it appears that no major damage has been done to refining infrastructure. The weekly inventory data from the U.S. due tomorrow may offer some clearer perspective on supply-demand issues arising from the storms.