Uncategorised

Gas Market UK gas prices extended their upward trajectory for the second consecutive session yesterday, with gains primarily observed at the front of the curve. Interestingly, the market seemed to disregard robust near-term fundamentals, despite Norwegian gas production reaching a nearly four-month high and European storage levels now above 80% fullness, ahead of its target. […]

Gas Market During the early hours of trading yesterday, the UK gas market saw limited movement, however as the day progressed contracts gained momentum and pushed higher. A recurring pattern emerged, indicating a clear build-up of risk premium primarily concentrated at the front of the curve, with the Aug-23 contract gaining 6.01p to settle at […]

Gas Market Friday’s session in the UK gas market commenced with a notable upward trajectory, signalling strong buying activity. However, as the day unfolded, the intraday gains gradually faded, and contracts along the curve underwent a reversal and eventually erased their early gains. The Winter 23 contract peak at 132.50p per therm, only to retreat […]

Gas Market Yesterday’s NBP gas market saw prices settle marginally higher for the third consecutive session. However, the market remained uncertain as contracts fluctuated between negative and positive territory throughout the day, reflecting the ongoing uncertainty in its overall direction. Notably, the seasonal contract for 2024 experienced the brunt of the upward push, with the […]

Gas Market The energy markets remained on edge yesterday as early morning losses to NBP futures were reversed and prices moved into positive territory through the afternoon.  Gains to the front months were over 5.00p at one stage but these were pared back and at the close the August contract settled 1.18p higher at 67.87p.  […]

Gas Market NBP futures regained some of the premium lost over the last week as an unplanned outage in the Aasta Hansteen gas field caused a little anxiety in the market that there could be unexpected extensions to the scheduled Norwegian maintenance next month. In August, the Troll field and Kollsnes gas processing plant will […]

Gas Market With the return of Norwegian gas imports after an extended maintenance run the market eased on opening yesterday but prices flipped between gains and losses for much of the session.  Nominations through the Langeled feeder were just shy of 60mcm yesterday, the highest since early summer. This left the GB gas system oversupplied […]

Gas Market During Friday’s session, the UK front month contract continued its downward trend. However, contracts further along the curve experienced marginal increases due to lingering concerns, particularly related to weather risks during the winter season. These price movements occurred despite record high storage levels. The front month contract August lost 1.07p, settling at 63.39p, […]

Gas Market The return of gas from Norway continued to weigh on the near curve on Thursday although prices for contracts out to next summer traded in positive territory earlier in the session.  The losses recorded yesterday were minor compared to the declines over the first three days of the week and its normal for […]

Gas Market Early trading the UK NBP market saw contracts opening weaker as the market extended losses for the third session in a row. The system was slightly short on opening but with several gas supply assets due to return from maintenance sentiment was generally positive. The key development occurred in the early afternoon when […]