Rebecca Cullen

UK gas future contracts drifted lower on Wednesday UK gas future contracts drifted lower on Wednesday with the support of healthy near-term fundamentals. The front month contract December reversed the gains from the previous two session and settle at 269.73p, down 29.17 pence per therm. Near term fundamentals including ample LNG supply and healthy imports […]

NBP futures decline throughout session on Friday NBP gas futures fell for a third consecutive day on Friday. Prices came under pressure from early trading and retreated throughout the session. Contracts for a December delivery shed 37.96p to settle at 228.43p a therm. The downward pressure was apparent across the curve with the 2023 contract […]

Weakness in the prompt supports losses along the near curve UK gas future contracts continued to ease on Thursday, as the recent bearish sentiment in the prompt market holds firm. The front month contract peaked at 276.00p before falling back to settle at 266.39p per therm, down 45.03 pence per therm over the last five […]

 NBP gas market continues to erode risk premium Despite a lack of strong directional signals, UK gas prices retreated during Wednesday’s session. Following a recent trend, the front of the curve displayed the most significant losses, taking direction from ample supply in the near term and low seasonal demand. The front month contract December which […]

The GB gas system running a touch short The gas markets continue to be very responsive to any news of supply issues and yesterday’s outage at the Oseberg gas field prompted some buying activity on the near contracts.  With the GB gas system running a touch short, the prompt responded with the spot and day […]

NBP near curve declines continue The NBP near curve followed up Fridays declines with more losses on Monday.  Prompt prices eased as UK gas demand fell due to higher output from wind generation in the power stack while robust LNG deliveries have pressured the winter months.  The front month contract closed at its lowest since […]

NBP futures retreat markedly After posting gains for 2 consecutive sessions, UK markets retreated substantially on Friday. Prices slipped from early in the session and by the market close the front month of December had shed 28.39p to settle at 280.62p a therm. Further out the 2023 contract fell 14.84p to end the day at […]

NBP futures extend gains after a stormy session A turbulent day of trading saw NBP futures posting significant gains in early trading before a late sell off limited the daily gains. The strong start to the trading session was sustained in the NBP prompt which rose steadily throughout the day to finish at 175.00p a […]

 UK gas futures reverse losses and make modest gains yesterday UK gas future contracts reversed their losses from the previous two session to end the day with modest gains. A strong uptick in the prompt market due to weather fundamentals filtered into the curve yesterday, highlighting the hypersensitivity future contract face this winter with slight […]

GB gas demand below seasonal norm GB gas demand was well below the seasonal norm on Tuesday which pressured the prompt and near curve of the NBP.  High wind generation has displaced gas fired generators from the power stack, while the mild temperatures have also dented heating load.  The spot settled 28.00p down at 42.05p […]