NBP futures opened the session with modest losses Having opened long by up to 25MCM on Tuesday the UK gas system tightened over the day and was running slightly short by the end of the trading day. Demand increased to 238MCM over the session to cover for the poor showing of wind generation in the […]
Rebecca Cullen
The oil market is gaining support from the accelerating roll-out of vaccines in the U.S. and Europe
UK NBP recorded gains for a fourth consecutive day Gas prices at the UK NBP recorded gains for a fourth consecutive day on Monday with day ahead and near futures gaining over a penny day-on-day. Demand on the UK gas system fell to seasonal norms yesterday as temperatures increased slightly and solar power generation reached […]
OPEC have revised their demand estimates for 2021 upwards
UK gas prices turned higher again on Friday Despite a comfortably supplied system, UK gas prices turned higher again on Friday with futures contracts gaining for a third consecutive day. Lower demand and adequate supply saw the spot price ease slightly on the day. Another dip in temperatures kept forecast demand above normal for the […]
Concerns of tight supplies as maintenance of Norwegian feeds has commenced
Prompt prices at the NBP were buoyed by forecasts of below normal temperatures. Prompt prices at the NBP were buoyed by forecasts for temperatures to fall below normal for the remainder of April yesterday. While the day ahead product had yielded around 0.50p in early trading on expectations of lower demand on Friday, that contract […]
Strengthening fuel prices provided support to the GB power market
Prompt gas prices saw mixed movement on the day As temperatures in Britain rose to near seasonal norms on Wednesday, demand on the UK gas system remained below 275MCM and the system was forecast long for most of the trading day. Gas-fired power demand was again strong as wind generation remained below 2GW but heating […]
Volatility continued on the power prompt where the day ahead price jumped.
Weaker dollar makes oil more attractive in other currencies Crude oil markets extended gains for the second session a row on a combination of a weaker dollar and some more optimism on future oil demand. With crude oil being priced in dollars, dollar weakness makes oil more attractive in other currencies, which in turn acts […]
Carbon prices hit fresh highs
Spot and day ahead prices closed up as temperatures remained well below normal. As the UK gas system struggled to balance on Monday, prompt gas prices recorded big gains on the day. Wind generation levels below 2GW saw gas-fired power demand push overall demand above 300MCM. An early deficit of 30MCM was cut to 5MCM […]
Crude oil prices eased following a 3‐day run of gains
Prompt gas prices fell significantly on Friday The UK gas system was comfortably supplied and enjoyed a surplus of over 10MCM on average over the trading day on Friday. As temperatures rose closer to normal levels for this time of year, lower heating demand compensated for lower wind generation on the day. Storage withdrawals continued […]
Prices were once again stable with the Brent contract finishing flat
On the prompt prices firmed The supply/demand balance on the UK gas system turned positive on Thursday and the system ran with a surplus of 19 MCM. Forecast demand for the day fell to 248MCM as temperature rose and an increase in wind generation displaced a significant tranche of gas-fired power generation. The supply side […]
Crude oil has fallen slightly overnight
UK gas system ran a supply deficit for most of the day yesterday The UK gas system ran a supply deficit for most of the day yesterday as wind generation levels fell off, increasing gas-fired power demand to 90MCM and overall demand to over 300MCM. Temperatures rose slightly across Ireland and the UK on Wednesday […]
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