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 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 […]

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 […]

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 […]

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 […]

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 […]

 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 […]

 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 […]

Prompt gas prices all gained strongly with spot, day ahead and week ahead contracts up by around 3.00p With unusually high demand for LNG in Asia, European markets are struggling to price-match to prevent cargoes diverting to the East. LNG send-out in the UK fell off substantially during the trading day yesterday on concerns that […]

Prompt gas prices were little changed as the UK gas system remained well-supplied on Friday With Brexit negotiations on a knife edge and little sign of a break-through, sterling weakened further on Friday. UK gas prices gained for a second consecutive day as a result, with the Calendar Year 2021 contract topping 40.00p for the […]

A spell of persistent colder weather in Asia was given as the cause for the large step up in gas prices  A spell of persistent colder weather in Asia was given as the cause for the large step up in gas prices on the NBP on Thursday. Increased gas demand there has lifted the Japanese […]