Wednesday 13 September 2017
UK gas demand has increased ever so slightly day on day and is forecast to come in at 186MCM today. Despite demand remaining well below the seasonal
norm the supply side is lagging behind and there is a small deficit of 3MCM on the system. Some short-range storage facilities are ramping up so we expect the deficit to be short lived. The gas futures market has opened slightly higher this morning although in truth prices have not moved far from last night's closing position. Crude oil markets have built on the gains from yesterday and the Brent contract has added a further 28 cents as it trades at $54.55 a barrel. Further direction will come when the weekly U.S. inventory figures are released later today.