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Near futures gas contracts for the remaining winter months recorded gains An early supply surplus on the UK gas system was eroded as demand increased slightly over the course of the day. Wind generation, which had been running above 10GW for most of the week, fell below that level on Friday morning, requiring more gas-fired […]

Despite the low demand and adequate supply, prompt gas prices gained on Thursday The UK gas market continued the trend of earlier in the week with only marginal movement on futures prices on Thursday. The continuing deterioration in the coronavirus situation in Europe, and the UK in particular, prevented the gas market from tracking oil […]

UK gas system continued to reflect the mild temperatures The UK gas system continued to reflect the mild temperatures that prevail over the UK and Ireland with gas forecast demand remaining low a 208MCM.  The system was generally comfortable throughout the day and despite tightening of the supply/demand balance, line pack still grew by 4MCM.  […]

With gas demand expected to tumble today, the day ahead shed 1.60p yesterday The forecast for milder temperatures to remain across northern Europe coupled with high winds for the remainder of the week pressured gas prices at the NBP prompt on Tuesday. Temperatures in Britain and Ireland are to remain 2-3°C above normal until the […]

 A strong upturn in oil prices also turned gas prices along the curve higher UK gas supply was slow to ramp up from weekend levels and the system was forecast 20MCM short yesterday morning. A big increase in LNG send-out over the course of the day saw the system balanced by close of business, however. […]

Demand on the UK gas system was down slightly on the previous day Demand on the UK gas system was down slightly on the previous day but still slightly above the seasonal norm on Friday and the system was comfortably supplied throughout the trading day. Prompt gas prices fell significantly as a result, with the […]

Demand was well above the seasonal norm at 275MCM yesterday The UK gas system ran with a surplus of over 10MCM at times on Thursday but the strong demand due to cooler temperatures drove UK gas prices higher. Demand was well above the seasonal norm at 275MCM yesterday and with LNG send out topping 70MCM, […]

 Demand on the UK gas system rose above the seasonal norm yesterday Demand on the UK gas system rose above the seasonal norm yesterday as wind generation slumped and gas-fired plant provided 53% of total power demand. Despite the high demand levels, the system remained well-supplied with line pack forecast to increase by 18MCM in […]

The UK NBP market was slow to get going on Tuesday The UK NBP market was slow to get going on Tuesday morning and it seemed the market was taking a break after multiple sessions of losses.  Gas contracts firmed a little although in truth prices remained close to the previous settlement.  There was little […]

 A combination of high wind generation and lower commercial demand led to demand on the UK gas system falling A combination of high wind generation and lower commercial demand due to Covid restrictions led to demand on the UK gas system falling 50MCM, or 20%, below the seasonal norm on Monday. Despite a modest recovery […]