Near futures contracts recorded losses for a fifth consecutive day Above average temperatures and record high wind availability saw demand on the UK gas system fall below 200MCM on Friday. An early supply deficit was reversed as demand fell and the system finished 12MCM long. With high wind generation levels also forecast for Monday, within […]
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After 5 days in decline carbon prices bounced strongly
Trading on the prompt gas market was muted on Friday The UK gas market finished the week on the up with contracts for the current winter months gaining 0.60p on average and finishing around 5% higher week-on-week. The full year 2021 contract price moved above 40.00p for the first time since January. Movement on seasonal […]
Ongoing weakness in carbon prices
Demand on the UK gas system remained above the seasonal norm Demand on the UK gas system remained above the seasonal norm on Friday, but deliveries ran ahead of demand throughout the day. The UK gas market finished the week on the up with a third consecutive day of gains, pushing week-on-week gains on near […]
The Norwegian oil workers’ strike was reported to be resolved
The UK gas market ended the week on a softer note The UK gas market ended the week on a softer note but accumulated gains over the week meant that prices for the coming 12 months all finished around 5% higher week-on-week. Norwegian deliveries made up around 50% of total supply on the day. The […]
West Texas Intermediate, fell on Friday.
A sharp decline in crude oil prices on Friday saw gas futures fall lower on the day The UK gas system enjoyed a comfortable supply-demand balance on Friday as Norwegian deliveries ramped up to seasonal levels with Langeled flowing 70MCM. A sharp decline in crude oil prices on Friday saw gas futures fall lower on […]
Brent crude has eased in overnight trading on Asian markets
Following two days of above normal demand, demand on the UK gas system fell back on Friday Following two days of above normal demand due to unseasonably cold weather, demand on the UK gas system fell back on Friday. Wind generation displaced some gas-fired power generation and commercial demand fell off heading into the weekend. […]
Baseload power futures declined again on Friday
Demand on the UK gas system declined heading into the weekend Demand on the UK gas system declined heading into the weekend and was running 12% below the seasonal norm on Friday with the system comfortably supplied throughout the trading day. Despite the solid supply-demand balance, prompt gas prices gained on the day with the […]
A weakening dollar contributed to decline in crude prices
As the pound continued to decline, UK gas prices recorded corresponding gains As the pound continued to decline, UK gas prices recorded corresponding gains on Friday. The limited gains on the day failed to alter the week-on-week losses on the gas futures market where the front month finished 2.53, or 8% lower over the week. […]
Gasoline demand is expected to fall further this week.
UK gas market ended the week with minor losses on Friday The UK gas market ended the week with minor losses on Friday, but these were not near enough to outweigh the strong gains of Monday and Thursday. The result was a 5 to 13% rise on near futures contracts week-on-week. The front month recorded […]
Crude oil prices finished higher week-on-week
An unplanned outage, pushed prompt gas prices higher The programme of planned maintenance on the Norwegian system is due to reduce deliveries by 50MCM throughout the month of September. Despite a comfortable system balance on Friday, an unplanned outage, which reduced Norwegian supply by a further 80MCM over the weekend, pushed prompt gas prices higher. […]
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