Gas Market Prices flip flopped in early trading as traders weighed up the impact of Qatari LNG being diverted away from the Suez Canal before prices stepped lower in the afternoon. The risk of delay to LNG cargos of 7 to 10 days was offset by the continued strong fundamentals that persist in European gas […]
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Despite yesterday’s upward movement, gains were constrained
Gas Market Yesterday, European gas markets experienced an influx of risk premium, triggered by confirmation from Qatar that tension in the Red Sea is causing disruptions to LNG shipments. A total of six vessels destine for Europe, comprising of three laden and three empty, have been diverted this month. In response to this news, contracts […]
UK and European gas systems are slightly undersupplied this morning with a decline in LNG send out across the continent a major contributing factor.
Gas Market Following Monday’s decline NBP gas prices stabilised on Tuesday, with prices moving sideways in a rangebound session. Prices for the front month oscillated between 65.75p/th and 68.59p/th closing before closing at a new two-year low of 66.75pth. The near curve contracts all followed a similar trajectory, while further on the curve the narrative […]
Carbon EUA Spot price settled at €59.99 per tonne, its lowest level for 22-months
Gas Market After last week’s cold snap, the arrival of milder temperatures and robust wind generation drove NBP futures and prompt prices lower early on Monday. The market responded to the comfortable gas system and ample gas still available with just over two months of the current winter to see out. Near futures set fresh […]
After a choppy session, crude oil prices eased late in the day on Friday
Gas Market Natural gas futures on the NBP ended the week with modest gains as near months exchanged above the 70.00p mark for much of the session before retreating late in the session. The front month February traded to high of 72.04p but settled at 69.86p with a gain of 1.44p. The Summer-24 contract also […]
Buying activity due to Feb-24 breaking a key resistance price level of 70.00p/th helped stem the recent decline in prices.
Gas Market Following the recent sell-off on the NBP, Thursday proved to be a day of reflection as the decline halted, and the most contracts made minor gains, effectively moving sideways. With February closing below 70.00p/th on Wednesday, the move lower appeared to trigger buying action. The contract was supported, trading for the majority of […]
Front months for the NBP crashed through the 70.00p marker with February closing at 68.36p, down 5.16p on Wednesday
Gas Market The gas markets discarded the current cold snap as prompt prices for the NBP fell by between 3.75p and 6.25p per therm on Wednesday while near futures declined by around 5.00p amid ample gas supplies. GB gas demand was one of the highest for the winter so far, but supplies were comfortable, […]
Gas prices continue to decline, with contracts reaching new 24-month lows
Gas Market An erratic day on the NBP ended with prices across the curve closing marginally down from Monday’s close. The front month, Feb-24, opened higher and continued upwards to a high of 76.1p/th spurned on by the news of a missile striking an empty Maltese cargo ship in the Red Sea. However, prices were […]
At the front of the curve, NBP futures settled an average of 5.15p lower yesterday
Gas Market Gas prices across Europe began the week by shrugging off all the bullish factors of the day and ended lower. The markets ignored reports of LNG tankers from Qatar being diverted around the Cape of Good Hope away from the Suez Canal. The longer trip adds around nine days to LNG deliveries to […]
Increased military activity in the Red Sea has led to Qatar Energy pausing the shipping of LNG via the Red Sea
Gas Market NBP gas prices rebounded slightly on Friday, but all contracts were down week-on-week following the losses earlier in the week. Gas prices garnered support from increasing risk in the middle east the spreading or war and unrest in the area. The United States and Britain carried out strikes on Houthi military targets in […]
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