Demand was well above the seasonal norm at 275MCM yesterday The UK gas system ran with a surplus of over 10MCM at times on Thursday but the strong demand due to cooler temperatures drove UK gas prices higher. Demand was well above the seasonal norm at 275MCM yesterday and with LNG send out topping 70MCM, […]
Rebecca Cullen
Carbon prices continue to edge higher
Demand on the UK gas system rose above the seasonal norm yesterday Demand on the UK gas system rose above the seasonal norm yesterday as wind generation slumped and gas-fired plant provided 53% of total power demand. Despite the high demand levels, the system remained well-supplied with line pack forecast to increase by 18MCM in […]
Crude oil prices increase as Presidential election day arrives
The UK NBP market was slow to get going on Tuesday The UK NBP market was slow to get going on Tuesday morning and it seemed the market was taking a break after multiple sessions of losses. Gas contracts firmed a little although in truth prices remained close to the previous settlement. There was little […]
GB power futures continued to decline
A combination of high wind generation and lower commercial demand led to demand on the UK gas system falling A combination of high wind generation and lower commercial demand due to Covid restrictions led to demand on the UK gas system falling 50MCM, or 20%, below the seasonal norm on Monday. Despite a modest recovery […]
The oil market ended the week at a 5-month low
Near futures contracts recorded losses for a fifth consecutive day Above average temperatures and record high wind availability saw demand on the UK gas system fall below 200MCM on Friday. An early supply deficit was reversed as demand fell and the system finished 12MCM long. With high wind generation levels also forecast for Monday, within […]
After 5 days in decline carbon prices bounced strongly
Trading on the prompt gas market was muted on Friday The UK gas market finished the week on the up with contracts for the current winter months gaining 0.60p on average and finishing around 5% higher week-on-week. The full year 2021 contract price moved above 40.00p for the first time since January. Movement on seasonal […]
Ongoing weakness in carbon prices
Demand on the UK gas system remained above the seasonal norm Demand on the UK gas system remained above the seasonal norm on Friday, but deliveries ran ahead of demand throughout the day. The UK gas market finished the week on the up with a third consecutive day of gains, pushing week-on-week gains on near […]
The Norwegian oil workers’ strike was reported to be resolved
The UK gas market ended the week on a softer note The UK gas market ended the week on a softer note but accumulated gains over the week meant that prices for the coming 12 months all finished around 5% higher week-on-week. Norwegian deliveries made up around 50% of total supply on the day. The […]
West Texas Intermediate, fell on Friday.
A sharp decline in crude oil prices on Friday saw gas futures fall lower on the day The UK gas system enjoyed a comfortable supply-demand balance on Friday as Norwegian deliveries ramped up to seasonal levels with Langeled flowing 70MCM. A sharp decline in crude oil prices on Friday saw gas futures fall lower on […]
Brent crude has eased in overnight trading on Asian markets
Following two days of above normal demand, demand on the UK gas system fell back on Friday Following two days of above normal demand due to unseasonably cold weather, demand on the UK gas system fell back on Friday. Wind generation displaced some gas-fired power generation and commercial demand fell off heading into the weekend. […]
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