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Gas Market Curtailed supplies from Norway and forecasts for increased demand provided support to the prompt and near curve yesterday.  Issues at the Norwegian Hammerfest LNG plant which could impact up 36mcm of imports to the UK will not be resolved until Friday. Gas demand picked up yesterday afternoon which left the system short, and […]

Gas Market Despite an outage at the Norwegian Hammerfest LNG plant that accounts for 5% of Norwegian annual exports, NBP gas prices continued to decline on Tuesday. Following the news of the outage prices moved briefly into positive territory in late morning trading. The front month traded up to 75.41p/th before a steady decline across […]

Gas Market  With tensions appearing to ease in the Middle East energy prices across Europe continued to shed premium on Monday.  NBP futures backed up Friday’s losses with more of the same yesterday.  Near months fell by an average of 3.28p per therm over the session but are still around 16.50p above the lows seen […]

Gas Market  Reports emerged on Friday morning that Israel had attacked a military base in Isfahan, Iran and the energy markets opened stronger.  But as further information about the attack was released it appeared that the missile strikes were restrained so as not to warrant a response.  The Iranian foreign Minister played down the attacks […]

Gas Market Wednesday’s losses failed to be consolidated yesterday as the market eyes next weeks planned maintenance works on Norwegian feeds and lower wind forecasts while concerns over geopolitical tensions remain.  It was a jittery session as losses to near NBP futures were reversed over the morning session and contracts oscillated between gains and losses […]

Gas Market Gas supplies through the Langeled pipeline into the UK increased following the return to operation of the Nyhamna gas plant. As a result of the return of Nyhamna much of the premium built up over the previous two sessions began to dissipate. The front month shed 4.7p/th at the close retreating from the […]

Gas Market The outages at Nyhamna and Dvalin are due to be resolved on Wednesday but still caused concerns to the market on Tuesday. The valve issue at Nyhamna removed up to 56mcm from Norwegian supplies and provided early support to the prompt and near curve. The front two months settled at four-month highs and […]

Gas Market Gas prices opened strongly following the attack by Iran on Israel over the weekend, while contributing to the early bullishness was news that the Nyhamna gas processing plant experienced an unplanned outage removing over 50mcm from the supply picture. As a result, the front month opened up at 79.00p/th before risk quickly fell […]

Gas Market After a slow start on Friday near NBP months edged higher through the day after Russia’s continued targeting of Ukraine’s energy infrastructure. The front month settled with a gain of 2.69p to close at 76.38p, bringing the gain for the week to 10.30p or 15.6%. The Winter-2024 contract added 2.99p on Friday and […]

Gas Market  NBP futures spiked on Thursday following the overnight bombardment on Ukraine’s energy infrastructure by Russia. Near months settled an average of 5.95p higher in response to the news that two underground gas storage facilities were hit by missiles. While early reports stated that both facilities were still operational gas prices crept higher through […]