Carbon EUAs hit a fresh 13-month low yesterday

Gas Market After a muted opening, NBP futures displayed more weakness on Wednesday and continued to add to the losses of the previous three sessions. The front month, December, on its last day trading on the ICE platform settled over 6.00p down at 102.34p, the lowest settlement for the contract since 21st of January-2022, a […]

Sentiment in the UK gas market is flat this morning

Gas Market NBP contracts continued to shed risk premium yesterday, as the losses marked the third consecutive session of declines. The front month contract December-23 experienced a volatile session, opening at a high of 114.25p before falling to close 3.53p lower at 108.68p. Longer-dated contracts were more resilient to the volatility, with Summer-24 closing at […]

EUA carbon contracts record their largest daily loss since June

Gas Market On Monday, UK gas prices opened lower and maintained a downward trajectory throughout the session. The front of the curve bore the brunt of the risk premium erosion, with the December-23 contract shedding 7.58p to close at 112.21 pence per therm, its largest daily loss since late October. Gas for delivery in Summer-24 […]

Near months of the NBP are over 5.00p lower this morning

Gas Market After two successive sessions of gains the NBP futures market was directionless on Friday and settled marginally lower.  Temperatures are expected to drop this week while wind generation is forecast to fall below recent daily averages.  December, the current front month for the NBP curve, settled flat at 119.79p on Friday but was […]

EUA Dec-23 contract hit its lowest intraday price of the year

Gas Market UK gas prices opened in positive territory on Thursday and maintained the upward push throughout the session. Risk premium was particularly evident at the front end of the curve, with the front month contract December 23 opened at 116.84p and eventually closed at 119.87p, up 6.82p on the day while Summer 24 gained […]

A late rally in NBP futures left the curve in positive territory on Wednesday

Gas Market After a choppy session, NBP futures settled marginally higher on Wednesday as the market rallied late in response to gains in European gas prices. Temperatures for Northern Europe have been revised to 2-3°C below the norm for next week, which will raise gas for heating demand and possibly increase exports through the IUK […]

UK NBP forward gas contracts traded in negative territory before a late rally pushed prices higher closing practically at parity

Gas Market As optimism increased yesterday for a temporary truce in the Israel Hamas conflict and the release of the hostages, prices declined to their lowest levels seen since the Hamas attack on the 7th of October. With Q1-24 having previously traded in a 121.75p/th to 152.40 p/th range since the attack, the contract closed […]

Forecasts for cooler temperatures and less wind generation from the weekend provided a boost to NBP prompt and near month contracts

Gas Market The UK gas markets opened firmer on Monday with near months showing strong gains from the get-go as temperatures are forecast to fall from the weekend.  The front months were up by over six pence per therm with the December contract peaking at 120.08p.  Support faded over the session and the near curve […]

NBP near curve recorded losses for the fourth consecutive session

Gas Market Limited price movement was witnessed in the UK gas market on Friday, however, the front of the curve ended the week in negative territory for the fourth consecutive session. The front month contract  December 23 decreased by 1.73p, closing at 113.74p, while Summer 24 saw a loss of 1.66p, ending the session at […]

Crude oil prices slumped on Thursday as Brent settled at the lowest point since 07-July

Gas Market The recent trend of NBP futures switching direction mid-session continued Thursday after early gains were reversed late morning, and contracts continued to ease after a break for lunch.  The near curve settled an average of 2.99p lower, with the front month, December, down from an intra-day high of 120.45p to settle at 115.47p, […]