Rebecca Cullen

News emerged that Gazprom had cut capacity on the Nord Stream 1 Near futures on the NBP curved opened with gains of around 10.00p on Tuesday but prices surged higher later in the session as news emerged that Gazprom had cut capacity on the Nord Stream 1 pipeline by around 40% to 100MCM.  The Russian […]

NBP prompt contracts made modest gains on the back of an unplanned outage The UK gas system was under supplied throughout the session for Monday which supported prompt prices on the day. Unplanned outages at Norwegian facilities cut upstream supply by 54MCM yesterday. The undersupply coupled with the limited wind forecast for coming sessions helped […]

Friday saw mixed movement on the NBP curve The UK gas market opened weaker following the large prices increases in the previous session when an explosion in a Texas LNG terminal caused the market to spike.  There was precious little news as to the likely duration at the LNG facility which reports have suggested at […]

Strong upward pressure on gas contracts for summer delivery European markets opened markedly higher on reports of an explosion at one of the largest U.S. LNG plants. The terminal in Texas accounts for 20% of US LNG production and could be restricted for three weeks. The news resulted in significant upward pressure on UK NBP […]

UK gas futures shed value for the fourth session in a row on Wednesday UK gas futures extended losses for the fourth session in a row with contracts for Summer delivering periods coming under significant pressure especially in the final hour of the session.  Early weakness in the market was apparent as contracts opened down […]

 Prompt prices remained steady on Tuesday Prompt prices remained steady on Tuesday, despite lower Norwegian supplies on the day. Near curve contracts opened softer and extended losses through the session. Despite opening short, to a demand of 235 MCM the GB gas system balanced later in the day.  Supplies through the Langeled feed increased to […]

The near curve on the NBP settled lower on Monday The near curve on the NBP settled lower on Monday after the UK holidays last week while the prompt moved higher on lower Norwegian supplies.  The July contract settled at the lowest level since mid-January yesterday as the contract fell by 9.17p to close at […]

UK gas market reversed track during yesterday’s session Following three sessions in a row of gains the UK gas market reversed track during yesterday’s session.  The market opened weaker with prices below the previous settlement.  As trading activity increased a major sell-off began with significant pressure on the front of the curve.  The front month […]

NBP were pared back later in the session The early gains to near curve contracts on the NBP were pared back later in the session as the remaining summer months settled an average of 4.00p higher on Tuesday.  The July contract which took on front month status on ICE yesterday settled at 183.71p having traded […]

GB gas demand rose by around 20% on Monday GB gas demand rose by around 20% on Monday to 266MCM as wind generation dropped in on the day.  The system ran short later in the session providing support to the prompt which had already opened higher.  The spot price settled 6.90p higher while the day […]