UK power demand for 2023, remains 2GW below five year average

Gas Market UK gas contracts for near term delivery gained value during yesterday’s session, while longer dated contracts released risk premium. The reoccurring trend of the front month contract taking the brunt of the upward pressure resurfaced, as gas for delivery in October moved 5.20p higher to settle at 100.57p. Buying activity has increased, as […]

Global oil prices eased from recent yearly highs on Wednesday

Gas Market NBP futures had a mixed day on Wednesday, with most of the curve failing to hang on to the premium gained late in Tuesdays session. The news of the extension to the maintenance at the Troll field caused a late rally on Tuesday and a volatile open on Wednesday. The front month October […]

UK gas prices rallied in late trading on Tuesday afternoon

Gas Market Throughout most of Tuesday’s session the gas market was oscillating close to Monday’s close as the market showed all the signs of consolidating much of Monday’s losses. However, prices spiked in the afternoon, with the majority of the volatility limited to the near-term contracts. The front month October increased by 9.1p per therm […]

NBP futures softened on Monday

Gas Market NBP futures softened on Monday as the market struggled to hang onto the premium gained in Friday’s session. A sideways pattern has developed in the market in the last week as fundamentals remain strong, with European storage levels well above their targets and gas demand remaining low, however there are still supply concerns. […]

NBP futures continued to release premium this morning

Gas Market The UK gas market softened on Thursday bringing a stop to the recent upward trend due to supply concerns. Chevrons two Western Australian plants are continuing to export LNG, despite a step-up in strikes and a fault at the Wheatstone plant that cut production by a quarter. Freeport LNG’s natural gas intake at […]

NBP futures regained the premium lost in Tuesdays session

Gas Market NBP futures regained the premium lost in Tuesdays session on the back of further Norwegian maintenance extensions, cancellations reported at Freeport LNG and an announcement of planned maintenance on the BBL pipeline. The brunt of the upward pressure was on the front month October contract which ended the session 5.33 pence per therm […]

Tuesday’s session brought a stop to the recent upward

Gas Market Gas markets on Tuesday were essentially flat day on day. The front month, October, opened in positive territory before news hit the market that Chevron, the owner of the Australian LNG facilities, asked the Fair Work Commission to intervene in the negotiations with unions. In Australia the Fair Work Commission can force the […]

Ongoing strike actions at two Australian LNG facilities

Gas Market On Monday, UK gas prices began their ascent and continued to push higher throughout the day. This occurred in tandem with ongoing strike actions at two major Australian LNG facilities, perhaps exacerbated by Chevron’s request for regulatory intervention. The front month contract October hit a high of 94.11p before eventually settling at 89.81p, […]

The gas markets have opened with a bullish intent this morning

Gas Market Strike action commenced at Chevron’s Gorgon and Wheatstone LNG plants on Friday with industrial action set to step up to 24-hour stoppages from Thursday. The interruptions may not impact production for the first few days of the week but gas markets in Europe reacted to the news on Friday and near NBP curve […]

Talks to avert LNG strike action have broken down

Gas Market The gas markets across Europe remained on edge yesterday as talks continued between unions and management to prevent industrial action at Chevron’s LNG plants in Australia.  NBP futures traded back and forth through the morning session, but it was the front month that experienced the most volatility as October traded between a high […]