Gas Market With the first real test of the winter passing, gas supplies across Europe and the UK remain healthy and the markets reacted with a selloff on Monday. Temperatures are set to return to normal this week, but wind generation is forecast to rise which will relieve pressure for gas fired generation. NBP futures […]
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UK gas market has opened with a clear downward trend
Gas Market On Friday, UK gas prices experienced a slight increase, driven by supportive weather fundamentals. However, the gains were limited, as contracts across the curve remained in negative territory over a five-day average. The initial signs of cold weather pushed the front month contract 2.52p higher, closing at 109.65 pence per therm. Similarly, seasonal […]
Gas markets were effectively flat yesterday
Gas Market The market recovered yesterday following the heavy losses over the last three sessions with the market recognising the strong fundamentals across Europe. Contracts yesterday made minor gains following the large sell offs as traders reassessed their positions. In its first session as the front month the January 2024 contract opened in negative territory […]
Carbon EUAs hit a fresh 13-month low yesterday
Gas Market After a muted opening, NBP futures displayed more weakness on Wednesday and continued to add to the losses of the previous three sessions. The front month, December, on its last day trading on the ICE platform settled over 6.00p down at 102.34p, the lowest settlement for the contract since 21st of January-2022, a […]
Sentiment in the UK gas market is flat this morning
Gas Market NBP contracts continued to shed risk premium yesterday, as the losses marked the third consecutive session of declines. The front month contract December-23 experienced a volatile session, opening at a high of 114.25p before falling to close 3.53p lower at 108.68p. Longer-dated contracts were more resilient to the volatility, with Summer-24 closing at […]
EUA carbon contracts record their largest daily loss since June
Gas Market On Monday, UK gas prices opened lower and maintained a downward trajectory throughout the session. The front of the curve bore the brunt of the risk premium erosion, with the December-23 contract shedding 7.58p to close at 112.21 pence per therm, its largest daily loss since late October. Gas for delivery in Summer-24 […]
Near months of the NBP are over 5.00p lower this morning
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 […]
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 […]
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