Rebecca Cullen

The UK gas markets surged ahead on Friday The UK gas markets surged ahead on Friday as concerns of tight supplies for the weeks ahead heightened.  LNG exports from the U.S. has been lower for the first half of June as unplanned outages hampered supplies. Meanwhile Norwegian imports remain curtailed due to maintenance works while […]

An early supply surplus on the UK gas system was reversed An early supply surplus on the UK gas system was reversed and the gas system fell short from midday to close of business. Demand increased as renewable power generation levels fell to just 2.5MCM and gas-fired generation was called on to supplement power demand. […]

 The UK gas system ran short throughout the day An unplanned outage on the Karsto field and ongoing planned maintenance on the Norwegian gas system saw Langeled deliveries fall below 20MCM yesterday. The UK gas system ran short throughout the day as a result but despite the supply deficit, prompt gas prices fell by an […]

UK gas prices remain elevated The UK NBP gas market opened lower on Tuesday and prices eased further over the course of the session.  While the downward movement was a welcome development, UK gas prices remain elevated and much of the premium added in recent days remains.  The front month July contract fell to a […]

 The UK gas market remained highly volatile European gas prices moved higher on Monday as Norwegian deliveries fell off and LNG deliveries slowed.  The UK gas market remained highly volatile as the week started on a bullish note with prompt gas prices stepping sharply higher.  Demand on the UK gas system averaged just 110MCM on […]

UK gas system was more comfortably supplied on Friday The UK gas system was more comfortably supplied on Friday as increased Norwegian deliveries and lower export demand saw the system running an average of 10MCM long with overall demand running some 40MCM below the seasonal norm.  The spot gas price at the UK NBP stepped […]

Volatility returned to the UK gas markets on Thursday Volatility returned to the UK gas markets on Thursday with futures flipping between losses and gains all morning until the market finally started to rack up some momentum to settle an average of 0.75p higher.  Gains would have been stronger on the day but were partially […]

Demand on the UK gas system hit a new year-to-date low The Norwegian system summer maintenance programme ramped up to cause maximum disruption to UK gas supply with deliveries via the Langeled line falling to 20MCM on Wednesday.  While demand on the UK gas system hit a new year-to-date low, and the system retained an […]

UK NBP gas market opened higher on Tuesday The UK NBP gas market opened higher on Tuesday and gains were extended throughout the session as contracts across the curve added significant premium.  There was little change in the overall gas supply/demand status to merit this market movement, but prices firmed, nonetheless.  In fact, gas demand […]

Rising carbon prices led UK gas and power prices higher Despite low demand and a strong supply surplus on the day, prompt and near futures gas prices at the NBP recorded significant gains on Monday. Concerns are rising that low storage volumes will require high injection demand over the summer maintenance period and stretch into […]