Brent crude down but carbon prices have set new highs

Prompt gas prices at the UK NBP fell by an average of 4.25p The UK gas system was oversupplied throughout the trading day with increasing Norwegian deliveries and robust LNG send-out maintaining a surplus averaging 10MCM on Friday.  The supply outlook for the summer months was boosted across Western Europe by forecast increased LNG delivery […]

Crude oil markets remain on edge as cases of Covid 19 increase across the globe

The UK NBP market has now gained for multiple sessions in a row UK gas futures maintained their elevated position on Thursday and further risk premium was added to contracts during the session.  The UK NBP market has now gained for multiple sessions in a row as pressure is maintained on contracts.  For the most […]

Carbon prices continue to rise, gaining a further 75 cent this morning

 Front month finished unchanged day-on-day; most other futures contracts recorded marginal gains. UK gas futures opened lower yesterday morning, suggesting a reversal of the recent rally which has seen prices climb for 5 consecutive days.  The reversal was short-lived however and while the front month finished unchanged day-on-day, most other futures contracts recorded further marginal […]

Carbon prices closed at new record highs

 NBP futures opened the session with modest losses Having opened long by up to 25MCM on Tuesday the UK gas system tightened over the day and was running slightly short by the end of the trading day.  Demand increased to 238MCM over the session to cover for the poor showing of wind generation in the […]

The oil market is gaining support from the accelerating roll-out of vaccines in the U.S. and Europe

 UK NBP recorded gains for a fourth consecutive day Gas prices at the UK NBP recorded gains for a fourth consecutive day on Monday with day ahead and near futures gaining over a penny day-on-day.  Demand on the UK gas system fell to seasonal norms yesterday as temperatures increased slightly and solar power generation reached […]

OPEC have revised their demand estimates for 2021 upwards

 UK gas prices turned higher again on Friday Despite a comfortably supplied system, UK gas prices turned higher again on Friday with futures contracts gaining for a third consecutive day.  Lower demand and adequate supply saw the spot price ease slightly on the day.  Another dip in temperatures kept forecast demand above normal for the […]

Concerns of tight supplies as maintenance of Norwegian feeds has commenced

Prompt prices at the NBP were buoyed by forecasts of below normal temperatures. Prompt prices at the NBP were buoyed by forecasts for temperatures to fall below normal for the remainder of April yesterday.  While the day ahead product had yielded around 0.50p in early trading on expectations of lower demand on Friday, that contract […]

Strengthening fuel prices provided support to the GB power market

 Prompt gas prices saw mixed movement on the day As temperatures in Britain rose to near seasonal norms on Wednesday, demand on the UK gas system remained below 275MCM and the system was forecast long for most of the trading day.  Gas-fired power demand was again strong as wind generation remained below 2GW but heating […]

Volatility continued on the power prompt where the day ahead price jumped.

Weaker dollar makes oil more attractive in other currencies Crude oil markets extended gains for the second session a row on a combination of a weaker dollar and some more optimism on future oil demand. With crude oil being priced in dollars, dollar weakness makes oil more attractive in other currencies, which in turn acts […]

Carbon prices hit fresh highs

 Spot and day ahead prices closed up as temperatures remained well below normal. As the UK gas system struggled to balance on Monday, prompt gas prices recorded big gains on the day. Wind generation levels below 2GW saw gas-fired power demand push overall demand above 300MCM. An early deficit of 30MCM was cut to 5MCM […]