A comfortable supply margin early in the day was reversed The UK gas market recorded strong gains for a fourth session in the last five, leaving near futures contracts up by over 10% over the 5-day period. A comfortable supply margin early in the day was reversed as demand on the UK gas system increased […]
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Crude oil prices see-sawed on Tuesday
NBP futures increased sharply on the day as carbon EUAs set new record highs An increase in wind generation through the afternoon saw GB gas demand fall back in line with the seasonal norm on Tuesday. The spot and day ahead which had edged up in earlier trading reversed those gains and settled around 0.75p […]
The oil market ran out of steam on Monday
Early gains on the UK gas futures market were reversed over the course of the trading day As oil prices turned lower following a bullish start on Monday, early gains on the UK gas futures market were reversed over the course of the trading day. The front month shed 0.85p while the full Summer 21 […]
Crude oil prices reaching levels not seen in almost 2 years
The positive supply balance on the day saw the spot price ease Weak wind availability ensured elevated demand for gas-fired power generation again on Friday. A rise in temperatures brought overall gas demand down from the high levels seen earlier in the week and the system was comfortably supplied on the day. Despite the well-supplied […]
Baseload power futures firmed on Thursday
Prices edged higher from opening as demand climbed slightly higher The UK gas market was less inclined to ignore the relatively high demand for the second day in a row and prices edged higher from opening as demand climbed slightly higher on colder weather and a dearth of wind generation. Demand on the conventional gas […]
Crude oil prices rebounded somewhat
The rise in demand was mainly down to a further decline in wind generation The UK gas system ran between 5 and 10 MCM short yesterday as demand rose to 345MCM, or 50MCM above the seasonal norm. Below normal temperatures drove heating demand higher but the rise in demand was mainly down to a further […]
Crude oil prices have firmed overnight after positive news on vaccines
A short gas system provided support to prompt prices on the NBP A short gas system provided support to prompt prices on the NBP on Tuesday as the spot and day ahead contracts settled 2.10p and 1.25p higher respectively. Gas demand was up at 333MCM on account of extra gas fired generators being required to […]
Brent has shed further as the market anticipates a relaxation of OPEC production limits
Demand on the UK gas system climbed above the seasonal norm As gas-fired power generation was called on to provide over 50% of GB power demand, demand on the UK gas system climbed above the seasonal norm yesterday. Wind generation dropped to just 2GW and the surge in gas-fired generation pushed overall demand to almost […]
Carbon prices are recovering after 3 days of losses at the end of last week
Gas-fired generation demand pushed overall demand sharply higher UK gas futures see-sawed last week and finished with just marginal movement in either direction on Friday, leaving near futures contracts lower by an average of 1.25p week-on-week. As wind generation fell to just 4GW on Friday, gas-fired generation demand pushed overall demand sharply higher and the […]
Brent rose to highest levels in almost 14 months
UK gas system remained well balanced with demand still well below the seasonal norm Thursday was the last day of trading for the March futures contract on ICE and the focus was on that product in the market. After a slow start, March opened softer and the losses extended through the day as the product […]
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