Gas Market After two successive sessions of gains the NBP futures market was directionless on Friday and settled marginally lower. Temperatures are expected to drop this week while wind generation is forecast to fall below recent daily averages. December, the current front month for the NBP curve, settled flat at 119.79p on Friday but was […]
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EUA Dec-23 contract hit its lowest intraday price of the year
Gas Market UK gas prices opened in positive territory on Thursday and maintained the upward push throughout the session. Risk premium was particularly evident at the front end of the curve, with the front month contract December 23 opened at 116.84p and eventually closed at 119.87p, up 6.82p on the day while Summer 24 gained […]
A late rally in NBP futures left the curve in positive territory on Wednesday
Gas Market After a choppy session, NBP futures settled marginally higher on Wednesday as the market rallied late in response to gains in European gas prices. Temperatures for Northern Europe have been revised to 2-3°C below the norm for next week, which will raise gas for heating demand and possibly increase exports through the IUK […]
UK NBP forward gas contracts traded in negative territory before a late rally pushed prices higher closing practically at parity
Gas Market As optimism increased yesterday for a temporary truce in the Israel Hamas conflict and the release of the hostages, prices declined to their lowest levels seen since the Hamas attack on the 7th of October. With Q1-24 having previously traded in a 121.75p/th to 152.40 p/th range since the attack, the contract closed […]
Forecasts for cooler temperatures and less wind generation from the weekend provided a boost to NBP prompt and near month contracts
Gas Market The UK gas markets opened firmer on Monday with near months showing strong gains from the get-go as temperatures are forecast to fall from the weekend. The front months were up by over six pence per therm with the December contract peaking at 120.08p. Support faded over the session and the near curve […]
NBP near curve recorded losses for the fourth consecutive session
Gas Market Limited price movement was witnessed in the UK gas market on Friday, however, the front of the curve ended the week in negative territory for the fourth consecutive session. The front month contract December 23 decreased by 1.73p, closing at 113.74p, while Summer 24 saw a loss of 1.66p, ending the session at […]
Crude oil prices slumped on Thursday as Brent settled at the lowest point since 07-July
Gas Market The recent trend of NBP futures switching direction mid-session continued Thursday after early gains were reversed late morning, and contracts continued to ease after a break for lunch. The near curve settled an average of 2.99p lower, with the front month, December, down from an intra-day high of 120.45p to settle at 115.47p, […]
Limited price movement in the UK gas market
Gas Market Yesterday’s price movement in the UK gas market was unclear, as contracts opened on a positive note but struggled to sustain those gains throughout the day. The front month contract December 2023 hit a peak of 124.11p before closing at 118.15p. Meanwhile, the Summer 2024 contract ended the day 0.52p lower at 119.62p. […]
Economic woes in China dominated Tuesday’s oil trading with the front month contract falling to its lowest level since late July.
Gas Market Tuesday’s market was best described as directionless, with prices moving sideways from Monday’s close. Day on day movements were a mélange with a near 50% split between minor gains and losses being posted across the curve. The market initially looked to be posting losses of 4 to 5 pence per therm before, what […]
UK gas prices edge higher on Monday
Gas Market On Monday, the initial trajectory of UK gas market appeared to be a continuation of the downward trend in the previous session, but a late surge in buying activity reversed the losses, and gas contracts closed higher. The NBP front month December-23 dipped to a low of 112.27p before closing 1.89p higher at […]
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