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Gas Market The ample gas supplies currently available continued to drive market sentiment on Tuesday as natural gas futures and prompt prices settled lower. It was a slow start for futures following the break for the new year’s holiday as the market weighed up the escalation of attacks on shipping in the Red Sea at […]

Gas Market Near months on the NBP ended the year in decline with February settling at 80.71p, a fresh two year low for the contract.  The mild winter along with high levels of gas in storage while LNG deliveries keep arriving have pressured natural gas futures lately as near month contracts have fallen to levels […]

Gas Market Wednesdays gains to NBP futures were reversed and some during Thursday’s trading session. The January contract settled just above its low point of the day at 83.56p, posting a loss of 6.47p.  The contract expired on ICE platform on Thursday along with the Quarter 1-2024 contract which also declined by over 6.00p. Yesterday’s […]

Gas Market The gas markets resumed with strong gains after the break for the Christmas holidays.  Concerns were raised following the increased attacks on shipping vessels in the Red Sea over the break. It was feared this could force shipping traffic to be diverted away from the Suez Canal, the quickest route to Europe from […]

Gas Market On the Friday before Christmas, the UK gas markets closed early for the holidays and trading activity during the session was subdued. By the close of play most near contracts settled lower but movement on the day was minimal with the January contract just 0.32p lower at 85.32p.  While the front month has […]

Gas Market Gas prices rebounded on Wednesday, following Tuesday’s losses. Prices across the board opened in positive territory and remained above the previous close for much of the day. The risk posed by the attacks in the Red Sea raised its head again as a potential driving force behind the 2.85p/th increase to the front […]

Gas Market On Tuesday, UK gas prices opened lower and continued shedding the risk premium linked to the escalating tensions in the Red Sea throughout the session. NBP contracts firstly realigned within the price range witnessed last week and then dipped even lower. The NBP Q1-24 contract opened at 85.90p and proceeded to fall, closing […]

Gas Market The NBP Gas market looked to be continuing its recent downward trend with prices opening below Friday’s close. Jan-24, the front month, opened at 82.5p per therm, and continued to trade lower. However, prices soon rebounded with news that BP and other major freight companies had ceased crossing the Red Sea amid attacks […]

Gas Market For the second consecutive session UK gas contracts ended the day in negative territory on Friday. Risk premium eroded from the front of the curve as a result of favorable market fundamentals including aggregate European storage levels at 89% fullness. The NBP month ahead contract closed 4.25p lower at 82.55 pence per therm, […]

Gas Market The malaise on UK gas markets continued unabated on Tuesday. The markets opened in negative territory, and other than Jan‐24 and Feb‐24 briefly trading higher, prices never looked like reversing the recent downward momentum. Gas fundamentals remain healthy across Europe with European storage sites standing at almost 91% fullness. With drought conditions persisting […]