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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Crude oil futures eased lower on Friday
Prompt prices fall strongly on the back of lacklustre demand The UK gas market weakened considerably on Friday, with prompt prices falling strongly on the back of lacklustre demand and a robust supply position. Forecast demand was pitched at just 119 MCM and the system was well supplied with forecast deliveries and actual flows running […]
Crude oil prices traded flat during Friday’s market
The Langeled pipeline remains the single biggest source of gas Demand on the UK gas system remained on par with recent days as the forecast came in at 150MCM. Deliveries were much more robust than of late with supplies peaking at 163MCM and line pack increasing by 12MCM. The Langeled pipeline remains the single biggest […]
Second week of sharp decline in U.S. crude production
The recent gas price surge slowed Lower wind availability on Friday saw UK gas demand increase but higher levels of solar generation meant that the call on CCGT was not as much as it might have been. The recent gas price surge slowed with near futures prices gaining marginally but remaining over 10% higher week-on-week. […]
Crude oil has relinquished half of yesterday’s gains
Monday saw the first significant shift in the front month gas price in over a year Monday saw the first really significant shift in the front month gas price in over a year. An early supply deficit on the UK gas system sent prompt prices higher and the front month responded accordingly. Prompt prices gained […]
First increase in U.S. drilling activity since March
Falling demand left the UK gas system over-supplied UK gas contracts responded to another drop in carbon prices on Friday, retracing some of the gains of previous days and leaving only the front month higher week-on-week. The August and September contracts eased fractionally but seasonal contracts shed up to 0.69p on the day leaving them […]
Crude oil prices have doubled since March
Weakening pound sterling helped prices move higher Wind availability fell off on Friday leading to higher gas demand with increased CCGT plant online. With low wind forecast for this week, the week ahead contract gained 0.90p but prompt and front month prices remained below 13.50p. A weakening pound sterling helped prices move higher but while […]
Tightness on the oil market was again in evidence on Friday
UK gas prices saw a third consecutive day of losses Demand on the UK gas system fell-off on Friday as wind generation picked up and commercial demand fell heading into the weekend. UK gas prices saw a third consecutive day of losses with prompt and near futures contracts again leading the decline. The prompt market […]
U.S. drilling activity hit a 40-year low at the end of June
Natural gas futures prices beyond the front month saw modest increases The UK gas system remained well-supplied on Friday as demand fell off heading into the weekend. Spot and day ahead gas prices were little changed but week ahead and balance-of-month contracts shed 1.60p and 1.45p respectively. Natural gas futures prices beyond the front month […]
Brent crude has recovered a little in early trading
UK gas system ran in surplus for most of the trading day on Friday The UK gas system ran in surplus for most of the trading day on Friday but a late dip in Langeled deliveries left the system with a 6MCM deficit at close of business. Summer maintenance on various Norwegian supply sources is […]
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