Day ahead gas also saw some stepped movement over the week The highly volatile trading pattern over the 5 days saw losses and gains on the front month contract of over 5.00p last week and a week-on-week increase 4.29p. Sub-zero temperatures and high gas-fired power generation demand stretched the UK gas system balance at times […]
Rebecca Cullen
Crude oil prices closed higher for the third session
Gas demand was around 20% above the seasonal norm The GB power and gas markets opened with significant gains on Thursday and the markets continued to firm through the day as temperatures remained just above 0°C. Gas demand was around 20% above the seasonal norm at 405MCM yesterday and an increase in gas fired power […]
West Texas Intermediate, settled above $50.00
Slight system deficit during the day saw prompt gas prices increase marginally As cold weather continued to prevail over Britain and Ireland, demand on the UK gas system increased to 386MCM yesterday. The system slipped into deficit mid-morning and only recovered balance at close of business. Tuesday’s sharp downward correction on the UK gas market […]
Volatility remains on the gas market
The gas system ran with a surplus of 16MCM Following a strong run up in gas prices over the Christmas period and early into the New Year, gas markets reversed track on Tuesday with significant losses evident across the UK NBP curve. Much of the pressure was on the front of the curve where at […]
Oil prices eased with Brent crude settling 71 cents lower
With cold weather continuing, demand on the UK gas system remained at similar levels to last week With cold weather continuing, demand on the UK gas system remained at similar levels to last week. The sterling rally against the euro on Thursday proved short-lived and the pound was trading at around 1.10 to the euro […]
The U.S. benchmark gained on a bullish inventory report
Cold weather and poor wind availability across Britain saw heating and gas-fired power demand hit new season-to-date highs Cold weather and poor wind availability across Britain saw heating and gas-fired power demand hit new season-to-date highs, pushing overall gas demand to almost 350MCM. An early supply deficit was balanced by close of business as LNG […]
Both West Texas and Brent crude gained
Demand on the gas system remained well below the seasonal norm Following 3 days of increases which saw near futures gas prices rise by almost 10%, the UK gas market reversed direction on Wednesday. Demand on the gas system remained well below the seasonal norm and the system was well-supplied on the day. Norwegian deliveries […]
Crude oil has weakened further overnight
Prompt gas prices stepped higher again UK gas prices gained strongly for a second consecutive day on Tuesday. Demand on the UK gas system rose slightly yesterday due mainly to increased gas-fired power generation. Heating demand was static as relatively mild weather persisted across the UK and Ireland but a fall-off in wind generation saw […]
The oil market reacted to new travel restrictions
UK gas futures for the coming 12 months rose sharply UK gas futures for the coming 12 months rose sharply over fears for LNG supply in the short term and a weakening pound in the longer term. A forecast cold spell in Japan and Korea for January has seen LNG demand in these 2 major […]
The recent oil price rally has abruptly halted
UK gas system enjoyed a healthy supply surplus on Friday Having been under-supplied on Thursday, the UK gas system enjoyed a healthy supply surplus on Friday. Mild weather and strong wind generation levels saw demand drop below 240MCM and the system ran a supply surplus averaging 15MCM over the trading day. Following 2 days of […]
Archives by Subject: