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Gas Market NBP futures continue to trade rangebound after Friday’s declines reversed most of the gains from the previous session.  The April contract ended the week at 100.71p, declining 5.83p on Friday while the summer contract which also expires on ICE this week settled at 104.83p, down 5.16p on the day or 3.69p over the […]

Gas Market NBP gas prices were elevated during yesterday’s session as the near curve contracts took direction from a colder temperatures forecast. While further dated contracts followed a similar trajectory despite no meaningful change in market fundamentals. The front month contract April, shifted 8.82p higher to settle at 106.54p while contracts for the remaining months […]

Gas Market UK gas prices fell back on Wednesday following a rally on the previous day as the market sought  direction from market fundamentals. April the front month contract peaked at 104.18p before falling back to settle at 97.72 pence per therm. For additional context the April contract is down 92.63p from its annual high […]

Gas Market The NBP gas market reversed the majority of the Monday’s losses as the market recovered from the initial shock of the Credit Suisse rescue and prices again moved higher. The majority of Monday’s losses were reversed as prices for the rest of 2023 increased by an average of 8.5 pence per therm, with […]

Gas Market The NBP curve opened softer yesterday and losses were extended through the session with near months settling down by 9.75p on average.  The summer contract shed 9.41p to close at 99.11p, the lowest settlement for the contract since 25-Jan-22. Prompt products shed a significant amount of premium too with the spot down 8.60p […]

Gas Market The small rebound in NBP futures on Thursday was overshadowed on Friday as bearish fundamentals returned with forecasts for mild temperatures and strong wind generation.  The April contract ticked up by 2.89p on Thursday but fell by over 5.00p on Friday bringing the week’s decline to 29.59p.  The summer contract yielded 4.67p on […]

Gas Market The NBP gas futures market oscillated between gains and losses on Thursday with either side failing to gain much of an advantage and by the close the market was marginally higher.  The front month April traded between 102.69p and 111.44p before settling at 109.19p, gaining 2.89p on the day.  The seasonal contracts of […]

Gas Market On Wednesday, the momentum in the UK gas market remained weak, with prices correlating with the fundamental picture. The front month contract for April settled at 106.30p, which is the lowest price observed since December 2021. Additionally, the bellwether contract, Summer 23, closed at 109.44 pence per therm, releasing all of last Friday’s […]

Gas Market The weakening market fundamentals continued to influence prices on Tuesday. LNG deliveries are still arriving at ports across Europe, with deliveries in the UK in line with year ago levels while deliveries into Belgium are twice what they were this time last year. Storage sites across the EU are currently 56% full compared […]

Gas Market Monday saw prices along the NBP curve revert to bearish fundamentals after the market was spooked into heavy buying activity on Friday. Contracts across the curve lost value yesterday but fell shy of reverse all the risk premium built into contracts from Friday’s rally. April, the front month contract was hardest hit, shedding […]