Demand on the UK gas system declined heading into the weekend Demand on the UK gas system declined heading into the weekend and was running 12% below the seasonal norm on Friday with the system comfortably supplied throughout the trading day. Despite the solid supply-demand balance, prompt gas prices gained on the day with the […]
Rebecca Cullen
A weakening dollar contributed to decline in crude prices
As the pound continued to decline, UK gas prices recorded corresponding gains As the pound continued to decline, UK gas prices recorded corresponding gains on Friday. The limited gains on the day failed to alter the week-on-week losses on the gas futures market where the front month finished 2.53, or 8% lower over the week. […]
Gasoline demand is expected to fall further this week.
UK gas market ended the week with minor losses on Friday The UK gas market ended the week with minor losses on Friday, but these were not near enough to outweigh the strong gains of Monday and Thursday. The result was a 5 to 13% rise on near futures contracts week-on-week. The front month recorded […]
Crude oil prices finished higher week-on-week
An unplanned outage, pushed prompt gas prices higher The programme of planned maintenance on the Norwegian system is due to reduce deliveries by 50MCM throughout the month of September. Despite a comfortable system balance on Friday, an unplanned outage, which reduced Norwegian supply by a further 80MCM over the weekend, pushed prompt gas prices higher. […]
Crude oil futures eased lower on Friday
Prompt prices fall strongly on the back of lacklustre demand The UK gas market weakened considerably on Friday, with prompt prices falling strongly on the back of lacklustre demand and a robust supply position. Forecast demand was pitched at just 119 MCM and the system was well supplied with forecast deliveries and actual flows running […]
Crude oil prices traded flat during Friday’s market
The Langeled pipeline remains the single biggest source of gas Demand on the UK gas system remained on par with recent days as the forecast came in at 150MCM. Deliveries were much more robust than of late with supplies peaking at 163MCM and line pack increasing by 12MCM. The Langeled pipeline remains the single biggest […]
Second week of sharp decline in U.S. crude production
The recent gas price surge slowed Lower wind availability on Friday saw UK gas demand increase but higher levels of solar generation meant that the call on CCGT was not as much as it might have been. The recent gas price surge slowed with near futures prices gaining marginally but remaining over 10% higher week-on-week. […]
Crude oil has relinquished half of yesterday’s gains
Monday saw the first significant shift in the front month gas price in over a year Monday saw the first really significant shift in the front month gas price in over a year. An early supply deficit on the UK gas system sent prompt prices higher and the front month responded accordingly. Prompt prices gained […]
First increase in U.S. drilling activity since March
Falling demand left the UK gas system over-supplied UK gas contracts responded to another drop in carbon prices on Friday, retracing some of the gains of previous days and leaving only the front month higher week-on-week. The August and September contracts eased fractionally but seasonal contracts shed up to 0.69p on the day leaving them […]
Crude oil prices have doubled since March
Weakening pound sterling helped prices move higher Wind availability fell off on Friday leading to higher gas demand with increased CCGT plant online. With low wind forecast for this week, the week ahead contract gained 0.90p but prompt and front month prices remained below 13.50p. A weakening pound sterling helped prices move higher but while […]
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