Gas Market NBP Gas contracts increased in value across the day, with near curve contracts opening at parity before a rally caused by a lack of supply took hold for the day. European gas markets, buoyed by falling temperatures and low Norwegian pipeline supplies as planned maintenance continued at a number of facilities, gained momentum […]
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Brent for July delivery declined by $2.89 a barrel on the day but was down $4.42 a barrel from where the June contract settled on Tuesday
Gas Market Subdued gas demand pressured the prompt on Wednesday which in turn fed into near months on the NBP curve. GB gas demand was below 145mcm, and supplies ran with a surplus to the end of trading as planned maintenance works continued at several Norwegian plants. With temperatures expected to remain above the […]
BP gas contracts reversed all of Monday’s losses amid supply tightness
Gas Market Gas prices rebounded from Monday’s losses buoyed by a risk of an interruption in LNG deliveries from Qatar following attacks by Houthi Militants in the Indian Ocean. By expanding their attack range outside of the Red Sea, the risk of LNG tankers being disrupted, even those routing around the Cape of God Hope, […]
The return to production of the Freeport LNG export facility weighed on gas prices
Gas Market In its final session before expiry, the May-24 contract fell by over three pence per therm. Gas prices declined with pressure coming from increased gas flows in the US to LNG liquefaction plants. Freeport LNG was pulling in additional gas as the plant began its return from maintenance with the total volume of […]
Friday’s late declines have continued into this morning’s session with near NBP months down a further 2.25p on average
Gas Market The restoration of gas flows from Norway returned comfort to the UK gas market on Friday afternoon as prompt and near futures yielded most of the premium added over the previous two sessions. Near futures had ticked up due to curtailed gas flows from Norway on Wednesday and Thursday with May adding 3.43p […]
NBP Gas curve prices are retreating from early morning highs.
Gas Market NBP gas prices nudged higher on Thursday as reduced Norwegian flows continued to make their presence felt on gas contracts. Flows were reduced due to a number of planned and unplanned outages but are all expected to return to production at some stage across Friday. The May-24 contract made strong gains, culminating in […]
BP futures have continued to edge higher this morning
Gas Market Curtailed supplies from Norway and forecasts for increased demand provided support to the prompt and near curve yesterday. Issues at the Norwegian Hammerfest LNG plant which could impact up 36mcm of imports to the UK will not be resolved until Friday. Gas demand picked up yesterday afternoon which left the system short, and […]
Gas prices continued their decline on Tuesday despite a minor issue at the Hammerfest LNG plant in Norway.
Gas Market Despite an outage at the Norwegian Hammerfest LNG plant that accounts for 5% of Norwegian annual exports, NBP gas prices continued to decline on Tuesday. Following the news of the outage prices moved briefly into positive territory in late morning trading. The front month traded up to 75.41p/th before a steady decline across […]
NBP futures backed up Friday’s losses as near months fell by an average of 3.28p yesterday
Gas Market With tensions appearing to ease in the Middle East energy prices across Europe continued to shed premium on Monday. NBP futures backed up Friday’s losses with more of the same yesterday. Near months fell by an average of 3.28p per therm over the session but are still around 16.50p above the lows seen […]
The gas markets have continued to show weakness this morning
Gas Market Reports emerged on Friday morning that Israel had attacked a military base in Isfahan, Iran and the energy markets opened stronger. But as further information about the attack was released it appeared that the missile strikes were restrained so as not to warrant a response. The Iranian foreign Minister played down the attacks […]
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