Rebecca Cullen

 The spot and day ahead products gained The unplanned outage at Sleipner continued to dog Norwegian gas exports on Tuesday and this provided support to prompt prices in the UK and Europe. The outage impacts gas flows to Zeebrugge in Belgium and Easington in the UK with flows through the Langeled line down by around […]

NBP futures posted losses for the second day running NBP futures posted losses for the second day running with the news that Canada was to release a compressor for Nord Stream 1 comforting the markets somewhat. Gas flows from Russia through the pipeline had been reduced to around 66MCM since mid-June as the replacement part […]

The market has been very focussed on potential supply risks Following multiple sessions of strong gains, the UK NBP market took a pause for breath on Friday. It was not all plain sailing however as the softer opening was soon retraced as trading ramped up.  The market has been very focused on potential supply risks […]

Prompt and near-term gas contracts recovered the majority of the losses Prompt and near-term gas contracts recovered the majority of the losses from the previous session as prices rose from the outset yesterday.  The front month August contract easily retraced the previous day’s losses and surged further ahead as the contract climbed to 328.50p per […]

The NBP gas market opened with sharp losses yesterday The NBP gas market opened with sharp losses yesterday following the news from Tuesday evening that the Norwegian government had intervened in the industrial action by gas and oil rig workers.  While the news was welcomed, the underlying concern of Russian supplies remained, and the early […]

There were wild intra-day swings in prices The threatened strike action by Norwegian offshore gas and oil rig workers commenced yesterday and continued to push up prompt and near futures on the NBP.  Industrial action was to escalate over the week and could have restricted Norway’s gas exports by around 50.0%, however, the government stepped […]

UK NBP gas futures opened with a significant gap up UK NBP gas futures opened with a significant gap up on Monday morning and gains were extended throughout the session.  The front month August contract traded to a high point of 292.30/therm before easing by a modest amount to settle at 282.84p, up by 43.38p […]

 Gas trading was light on Friday Gas trading was light on Friday with the market seeming to pause for breath. Gains had been the order of the day in the last three session as prices firmed across the curve.  Buys on most forward contracts were hard to find although contract past the front did post […]

European prompt prices continued their divergence during Thursday’s session European prompt prices continued their divergence during Thursday’s session, with NBP Day ahead settling at 160.13 pence per therm while the Dutch equivalent at the TTF gas hub settled at 359.99p. Ample LNG supply is the primary reason behind the UK discount, due to robust regasification […]

NBP futures moved sharply higher yesterday European energy prices were driven higher by mounting uncertainty over Russian gas supplies and concerns for French nuclear availability yesterday.  Pipeline flows from Russia through the Nord Stream 1 have been curtailed due to compressors being held up because of sanctions Gazprom have said, and with maintenance on the […]