Cold weather helped to push gas prices higher on Friday following the losses on Thursday

Gas Market Gas prices stepped higher as a result of colder weather that brought snow to parts of Ireland on Friday morning. Within day and Day ahead contracts gained almost 4p per therm across the session, closing at 3-week highs with both being assessed at 67.00p/th. April, in its second session as the front month, […]

The overnight blast of arctic air has sent ripples through the gas markets this morning

Gas Market Following Wednesday’s sharp increase in prices, Thursday saw over half of the gains reversed as the market took direction from the persistently strong market fundamentals. The front season, Summer-24 fell by 1.87p to 62.36p/th while the new front month contract, April, fell by 2.09p to 61.58 pence. Having reached the end of February, […]

Freeport LNG partial outage to be extended two more weeks

Gas Market European gas prices were buoyed by reports that the U.S. Freeport LNG facility will extend its current outage for a further two weeks. One of the three liquefaction trains at the Texas plant has been down for most of February and was expected to return at the end of the month. The front […]

Brent settled higher for a second day but gains were tempered by hopes of a possible ceasefire in Gaza

Gas Market Natural gas futures opened lower on Tuesday and near futures reversed most of the gains witnessed on Monday, however, the market switched tack in the afternoon session and near contracts settled around a penny higher.  The intra-day swing for March was 4.55p as the front month settled 1.30p higher at 60.60p on its […]

Prompt prices have opened lower this morning with the Day ahead product down 2.00p

Gas Market The GB gas system opened short and lagged demand for most of Monday’s session giving prompt prices a boost after the weekend. Demand rose to 271mcm with the cooler temperatures and supplies still trailed by 8mcm just before the close of play.  The Spot and Day ahead products moved higher to settle at […]

European gas storage levels remain abundant, at 65% capacity

This morning Prices have edged higher in the UK gas market this morning, with the front month contract March-24 last trading at 57.60p, a 1.14p premium to Friday’s settlement. The front seasonal contract, Summer-24 has followed a similar trajectory, moving 0.94p higher to trade at 58.23p. With a shift in weather fundamentals and a colder […]

Carbon EUAs weakened yesterday with the Spot closing €1.82 lower at €50.88 per tonne, a fresh 30-month low

Gas Market The decline in wholesale gas prices continued on Thursday with a further 1.82p being yielded by the front month of the NBP.  It’s the second anniversary of the Russian invasion of Ukraine at the weekend and natural gas prices at the front of the curve have fallen to the lowest levels for over […]

Near futures have opened lower with March at 58.95p

Gas Market Having opened a touch lower on Wednesday, NBP futures drifted higher with some near contracts edging into positive territory before easing back again ahead of the market close.  Movement on the day was kept within a narrow range as fundamentals remained weak and the front month traded between 59.66p and 58.11p before going […]

NBP gas prices rebounded on Tuesday following the testing of new post-energy crisis lows

Gas Market Following the recent downward momentum on the NBP gas market, prices rebounded slightly on Tuesday. With a number of contracts falling below the 60p per therm level at Monday’s close, buying activity increased on Tuesday. Traders most likely saw an opportunity to take value following the decline to new post-energy crisis lows. The […]

NBP Summer-24 contract breaks the 60.00p price barrier to close at 59.35p

Gas Market UK gas prices retreated once again on Monday, returning to pre-energy crises levels. The Summer-24 contract broke the 60.00p price barrier to settle at 59.35p while the front month contract March broke the same price barrier to close at 57.93 pence per therm. The market’s prolonged downward momentum during the winter season is […]