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Overall renewable generation doubled day-on-day Overall renewable generation doubled day-on-day and The UK gas system maintained a supply surplus averaging 7.5MCM throughout the trading day on Friday.  The more comfortable supply situation was made possible by increased wind generation, reducing gas-fired power demand.  With no new price drivers in play, prompt and near futures gas […]

Prompt close marginally down Once again, a tight gas system saw prompt and near curve contracts for the NBP rise through the morning on Thursday, but prices fell back later in the session leaving the prompt to close marginally down. There was a compressor issue at the Troll field which curbed supplies as Langeled flows […]

 UK gas market resumed its upward trajectory The UK gas market resumed its upward trajectory on Wednesday as the short to medium term supply outlook remains poor.  The return of the Nord Stream 1 pipeline from maintenance on Friday should see some relief for Western European markets but storage levels remain worryingly low, suggesting that […]

 The see saw nature of the UK NBP gas market continued The see saw nature of the UK NBP gas market continued during Tuesday session with prices opening weaker from the off.  Over the last five sessions gas contract have shed over 4.00p per therm in premium in two days only to be followed by […]

Prompt prices recorded less strident gains Tight supply fundamentals took the UK gas market higher again yesterday as only 2 LNG cargoes are due to berth at UK terminals for the remainder of this month and storage reserves remain seriously diminished.  The volatility which has become commonplace on the UK gas market of late was […]

 Prompt gas prices gained strongly The healthy supply-demand balance which prevailed early Friday turned negative by the close and is forecast to be much tighter on Monday as renewable power supply is forecast to fall to less than 3GW, prompting higher gas demand for power generation.  Prompt gas prices gained strongly as a result, within […]

 UK gas system was balanced by the afternoon A tight gas system continued to cause concerns for the NBP gas market on Thursday, but prompt prices fell on day as the UK gas system was balanced by the afternoon.  The spot and day ahead closed over 2.00p down as supplies from Norway increased to cover […]

Improved supply-demand balance helped prompt gas prices lower A significant increase in renewable power generation on Wednesday saw gas demand falling to 125MCM on average and supply running up to 10MCM long.  The improved supply-demand balance on the UK gas system helped prompt gas prices lower with day ahead and week ahead prices shedding 1.85p […]

 Gas contracts moved between gains and losses across the day The battle between the bears and bulls continued unabated during Tuesday’s market with gas contracts moving between gains and losses across the day.  Following the significant losses from the previous session gas prices opened weaker with the front month being priced down by a penny […]

The recent volatility on the UK gas market is likely to continue With the UK gas supply outlook not looking any better for the remaining summer months, the recent volatility on the UK gas market is likely to continue while carbon prices fluctuate as they have been of late.  The longer-term supply outlook is reflected […]