The gas system ran with a surplus of 16MCM Following a strong run up in gas prices over the Christmas period and early into the New Year, gas markets reversed track on Tuesday with significant losses evident across the UK NBP curve. Much of the pressure was on the front of the curve where at […]
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Oil prices eased with Brent crude settling 71 cents lower
With cold weather continuing, demand on the UK gas system remained at similar levels to last week With cold weather continuing, demand on the UK gas system remained at similar levels to last week. The sterling rally against the euro on Thursday proved short-lived and the pound was trading at around 1.10 to the euro […]
The U.S. benchmark gained on a bullish inventory report
Cold weather and poor wind availability across Britain saw heating and gas-fired power demand hit new season-to-date highs Cold weather and poor wind availability across Britain saw heating and gas-fired power demand hit new season-to-date highs, pushing overall gas demand to almost 350MCM. An early supply deficit was balanced by close of business as LNG […]
Both West Texas and Brent crude gained
Demand on the gas system remained well below the seasonal norm Following 3 days of increases which saw near futures gas prices rise by almost 10%, the UK gas market reversed direction on Wednesday. Demand on the gas system remained well below the seasonal norm and the system was well-supplied on the day. Norwegian deliveries […]
Crude oil has weakened further overnight
Prompt gas prices stepped higher again UK gas prices gained strongly for a second consecutive day on Tuesday. Demand on the UK gas system rose slightly yesterday due mainly to increased gas-fired power generation. Heating demand was static as relatively mild weather persisted across the UK and Ireland but a fall-off in wind generation saw […]
The oil market reacted to new travel restrictions
UK gas futures for the coming 12 months rose sharply UK gas futures for the coming 12 months rose sharply over fears for LNG supply in the short term and a weakening pound in the longer term. A forecast cold spell in Japan and Korea for January has seen LNG demand in these 2 major […]
The recent oil price rally has abruptly halted
UK gas system enjoyed a healthy supply surplus on Friday Having been under-supplied on Thursday, the UK gas system enjoyed a healthy supply surplus on Friday. Mild weather and strong wind generation levels saw demand drop below 240MCM and the system ran a supply surplus averaging 15MCM over the trading day. Following 2 days of […]
Inventory data suggesting some growth in oil demand
Some adverse weather conditions over the weekend are preventing a number of LNG tankers from docking. The UK gas system opened undersupplied on Thursday morning and early forecasts suggested the system would run 16MCM short. The main drivers for the system deficit were an increase in demand from conventional gas generation and some reductions in […]
Crude oil prices continued to creep higher
Increased optimism over a Brexit trade deal saw gas futures adjust lower to break a 6-day rally The UK gas system began the day in surplus yesterday but a surge in heating demand negated a drop in gas-fired generation demand as wind generation rose to 12GW. As demand increased the system fell short by the […]
Bullish trading in the carbon markets
Gas futures averaged gains of around 0.80p yesterday Bullish trading in the carbon markets added to the upside in NBP futures on Tuesday. The market has already been inflated by concerns of increases in Asian LNG prices and fears that LNG supplies could be diverted away from Europe to Asia. The remaining winter months have […]
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