Rebecca Cullen

Early losses on the UK gas market were reversed Better than forecast wind availability helped keep UK gas demand well below the seasonal norm on Wednesday and supply outstripped demand by over 15MCM at 0800.  The surplus dwindled to 3MCM by close of business however and early losses on the UK gas market were reversed […]

More uncertainty on Nord Stream 2 drive prices higher The near curve and prompt gas contracts ramped up on Tuesday as forecasts for low wind later in the week coupled with more uncertainty on Nord Stream 2 to drive prices higher. Concerns were increased as the ongoing tension on the Russia-Ukraine border could delay the […]

European gas prices continued their seemingly relentless rise European gas prices continued their seemingly relentless rise on Monday on concerns over low storage levels and the possible restriction of Russian supply.  Prompt and near futures gas contracts at the NBP gained around 25.00p on a combination of concerns over supply and a sharp rise in […]

The market ignored the supply situation As was the case earlier in the week, the market ignored the supply situation on the day and sentiment was driven by concerns for storage levels.  Prompt and near futures gas contracts gained over 12.00p on the day and the front month was up almost 40.00p week-on-week.  News of […]

Norwegian gas deliveries to the UK returned to normal Norwegian gas deliveries to the UK returned to normal on Thursday with Langeled flowing at full capacity following the resolution of problems on the Troll field.  The more comfortable supply-demand balance on the UK gas system saw some of the premium gained on Wednesday relinquished on […]

An unplanned outage on the giant Norwegian Troll field Falling temperatures and high wind-chill factors saw demand running ahead of supply for much of the day yesterday, despite robust wind generation levels.  Prompt gas prices jumped by an average of almost 20.00p with the day ahead up by 21.95p.  Near futures contracts for the remainder […]

NBP opened with significant gains on Tuesday Forecasts for cooler temperatures coupled with an under supplied gas system saw prompt and near curve contracts on the NBP open with significant gains on Tuesday. The front month and day ahead contracts were up by 10.00p within the first hour and increases were extended through the session […]

A late rally on the market saw prices increase towards the close Gas contracts at the front of the UK NBP curve remained in negative territory for much of the day before a late rally on the market saw prices increase towards the close. Strong demand from the UK power balancing sector lifted both the […]

UK gas prices moved in different directions on the near and far curve For a second consecutive day, UK gas prices moved in different directions on the near and far curve.  Contracts for the remaining winter months shed an average of 13.18p on Friday but were little changed week-on-week.  Seasonal contracts for Summer 22 and […]

Premium added during the previous session was retraced UK gas prices at the front of the curve opened weaker on Thursday morning and the premium added during the previous session was retraced as the market seemed to change its mind regarding recent capacity booking activity by Gazprom.  Reports of Gazprom capacity bookings or lack of […]