Gas Market NBP futures switched direction on Thursday with near contracts reversing most of Wednesday’s losses as LNG tankers queued in the Freeport channel. Yesterday’s Nominations for Freeport LNG in Texas were around a third of normal capacity indicating one of the liquefaction trains was in operation although no cargoes have been loaded yet. The […]
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The NBP partially retraced Tuesdays gains, with the Spot market declining by 4% day on day
Gas Market On Wednesday NBP prices retreated from the previous day’s highs with the Spot and curve contracts all shedding value. LNG risk was still a focus of curve contracts as the market remained tentative to the latest developments at Freeport LNG, with Train 1 expected to restart this week, but actual loadings are not […]
Brent posted it largest one-day loss since early June
Gas Market Near curve and prompt prices for the NBP rebounded on Tuesday with support coming from a tight gas system due to planned maintenance works and reports of an outage at Freeport’s LNG facility in Texas. The front month was up over 4.50p per therm reaching an intra-day high of 76.93p before settling at […]
Weakness returned to the NBP on Monday with losses observed across both prompt and curve products.
Gas Market Losses across the NBP prompt and curve were consistent on Monday with weak fundamentals overpowering some minor bullish indicators. Healthy storage levels are playing into the downside on the near curve with European storage levels now higher than this time last year at 77.0% full and British LNG storage facilities currently sitting at […]
Thursday’s gains continued into Friday, with products across the NBP prompt and curve exhibiting increases
Gas Market NBP products across both the prompt and curve made gains on Friday, with the biggest increases observed on short and near-term contracts. Winter-24 settled at 94.59p per therm, an increase of 1.09p day on day, while the front-month contract finished up by 0.95p to close at 73.12p per therm. Despite the gains experienced […]
Crude oil prices settled higher after hopes of a cut in U.S. interest rates were stoked again
Gas Market NBP futures oscillated above Wednesdays close during yesterday’s session with contracts briefly dipping lower before settling with modest gains. The GB gas system was undersupplied for much of the session as demand increased to almost 170mcm as lower wind generation required gas generators to compensate for the drop off in renewables in the […]
Tuesday’s weakness extended into Wednesday with NBP prompt and curve contracts reaching lows not seen since Mid-May
Gas Market Prices across the NBP were once again in decline on Wednesday, with recent bearish fundamentals remaining largely unchanged. Stable supply coming from Norway and the UKCS, coupled with a long GB system provided downward pressure to the prompt, with the Day ahead contract closing at 71.00p per therm, its lowest close since mid-May […]
NBP futures continued to fall on Tuesday as August, the front month settled at 72.79p per therm, its lowest point since early May
Gas Market Fundamentals remained bearish on Tuesday as near NBP futures settled an average of 2.28p per therm lower. Wind forecasts have been revised higher for next week which should curb gas demand for generation. Meanwhile LNG deliveries to Europe have stepped up with the Netherlands expecting four further cargoes over the next week or […]
Friday’s losses continued into Monday as NBP prompt and curve contracts were once again in decline.
Gas Market NBP contracts were once again in decline on Monday, continuing Friday’s downward trajectory. Day ahead shed 2.68p to finish at 75.51p per therm, the lowest close since May 20th, despite an unplanned outage at the Tolmount platform and higher demand for gas from the power generation sector. With supply appearing otherwise healthy, the […]
Stable Norwegian imports and a robust LNG arrival schedule into Europe helped to ease near curve prices on Friday
Gas Market On Friday NBP prompt contracts traded relatively flat against their previous close with greater losses experienced further out along the near curve. A rise in gas for power demand levels as well as a downward revision to wind generation forecasts for this week muted any short-term downside stemmed from a well balanced gas […]
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