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Trading for NBP futures was volatile Nominations through the Langeled pipeline were back to 64MCM on Monday and while the GB gas system was short for much of the session, both the prompt and near curve posted further losses.  The spot and day ahead yielded 6.10p and 5.50p respectively while the balance of month settled […]

The prompt market also softened on Friday The gas market continued to decline on Friday as the issue with Sleipner field was resolved restoring Norwegian gas flows.  Near month contracts yielded around 36.00p on the day and over the week were 55.05p lower on average.  The front winter ended the week 40.38p down having shed […]

 Pressure on the front of the curve was intense Following two sessions of strong gains the UK NBP gas markets reversed direction yesterday and strong losses were the order of the day. The market was weaker from the outset and as trading intensified a full-blown sell-off commenced.  Pressure on the front of the curve was […]

Significant volatility main feature on the UK NBP gas market Significant volatility and price increases were the main feature on the UK NBP gas market yesterday as for a second session in a row, contracts continued on an upward trajectory. Sentiment remains broadly pessimistic as the market continues to focus on supply threats.  The maintenance […]

 The spot and day ahead products gained The unplanned outage at Sleipner continued to dog Norwegian gas exports on Tuesday and this provided support to prompt prices in the UK and Europe. The outage impacts gas flows to Zeebrugge in Belgium and Easington in the UK with flows through the Langeled line down by around […]

NBP futures posted losses for the second day running NBP futures posted losses for the second day running with the news that Canada was to release a compressor for Nord Stream 1 comforting the markets somewhat. Gas flows from Russia through the pipeline had been reduced to around 66MCM since mid-June as the replacement part […]

The market has been very focussed on potential supply risks Following multiple sessions of strong gains, the UK NBP market took a pause for breath on Friday. It was not all plain sailing however as the softer opening was soon retraced as trading ramped up.  The market has been very focused on potential supply risks […]

Prompt and near-term gas contracts recovered the majority of the losses Prompt and near-term gas contracts recovered the majority of the losses from the previous session as prices rose from the outset yesterday.  The front month August contract easily retraced the previous day’s losses and surged further ahead as the contract climbed to 328.50p per […]

The NBP gas market opened with sharp losses yesterday The NBP gas market opened with sharp losses yesterday following the news from Tuesday evening that the Norwegian government had intervened in the industrial action by gas and oil rig workers.  While the news was welcomed, the underlying concern of Russian supplies remained, and the early […]

There were wild intra-day swings in prices The threatened strike action by Norwegian offshore gas and oil rig workers commenced yesterday and continued to push up prompt and near futures on the NBP.  Industrial action was to escalate over the week and could have restricted Norway’s gas exports by around 50.0%, however, the government stepped […]