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 […]
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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 […]
Near months of the NBP averaged gains of 1.50p yesterday
Gas Market An unplanned outage at Norway’s Oseberg field flipped gas prices on Thursday as Wednesday’s losses were partially eroded. Gassco, the Norwegian gas operator is uncertain as to the duration of the outage for now and the impact is up to 7.5mcm of capacity. The market reacted to the news with both the prompt […]
Weak fundamentals drove NBP prompt and curve prices down on Wednesday
Gas Market The NBP gas market moved back into negative territory on Wednesday. A flurry of weak fundamentals made up of higher wind-for-power generation and steady supply from Norway due to the return of several fields and terminals from maintenance played into the bear’s favour. The GB system finished the day in a long position, […]
Tuesday saw a choppy NBP market with contracts recovering some of Monday’s losses as market fundamentals remain strong
Gas Market The NBP gas market oscillated close to Monday’s close for much of yesterday’s session. For the most part contracts traded below Monday’s close as the front season, Winter-24 fell to an intra-day low of 98.50p/th before recovering juts prior to the close, posting a day-on-day gain of 1.13p/th to close at 99.94p/th. Similarly, […]
Declines seen across the NBP on Monday, with the near curve making the biggest losses
Gas Market A more pronounced downturn in prices, particularly on the near curve, was observed across the NBP gas market on Monday. August-24, now trading as the new front month, fell by almost 5.00p from an intra-day high of 83.15p per therm to settle at 78.30p. The losses continued on the prompt, albeit to a […]
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