Rebecca Cullen

UK gas system was comfortably supplied throughout the trading day UK prompt and futures markets moved in different directions on Monday with prompt prices gaining strongly on the day. While the UK gas system was comfortably supplied throughout the trading day, within day and day ahead contracts gained 16.50p and 16.90p respectively as gas-fired power […]

UK gas prices eased significantly for a third consecutive day The modest increase in Russian deliveries to Western Europe continued to alleviate pressure on gas prices on Friday. UK gas prices eased significantly for a third consecutive day on Friday and finished lower week-on-week for the first time in 3 months. Having briefly traded above […]

Gas markets across Europe settled lower Gas markets across Europe settled lower for the second session in a row as the announcement from Vladimir Putin that Gazprom will send additional gas to Western Europe provided some relief.  The additional flows are scheduled to come through the Yamal pipeline into Poland and will add an overall […]

UK and Western European gas markets rocketed UK and Western European gas markets rocketed on Wednesday morning with gains of around 33% on market opening.  A forecast cold spell for later this month and early November, combined with low storage levels pushed UK gas prices up by over 100.00p in the most extreme volatility ever […]

NBP futures at record highs yesterday Forecasts for cooler temperatures from the weekend drove near curve NBP futures to record highs yesterday with many contracts trading above 300.00p per therm.  The market appears to have over-reacted to this news but the low levels of gas in storage across Europe has heightened concerns for supplies.  Wind […]

 Early softening in gas futures at market opening was reversed Despite lower wind availability on Monday, UK gas demand fell back from Friday’s levels as temperatures picked up slightly.  An early supply surplus of 22MCM was eroded as demand increased over the course of the day but the system still finished 2MCM long.  The spot […]

 Little evidence of any major improvement in the supply situation Massive gains in gas prices for the winter months resulted in a cumulative increase of over 33% over the first 4 days of last week.  The market turned on Friday with the new front month contract for November shedding 9.92p but the contract was still […]

Once again yesterday UK NBP market posted huge increases for Winter months Once again yesterday and for multiple session in a row the UK NBP market posted huge increases for Winter months.  Yesterday’s market saw the expiry of the October, Q4 2021 and Winter 2021 contracts.  This event usually heralds a significant amount of trading […]

October contract expired at a record front month price An 10% increase in demand day-on-day saw the total UK gas system demand rise to 220MCM yesterday.  The system remained well-supplied for most of the trading day but fell short late afternoon as interconnector exports rose to 78MCM.  Early gains had been pared back by midday […]

 Volatility in the winter months continued Tuesday The volatility in the winter months continued Tuesday with swings of up to 25.00p in prices intra-day after prices soared on opening. October which is due to expire on ICE today peaked at 213.09p before the market came back midway through the session but near futures settled between […]