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Gas prices on the UK NBP for the remaining winter months eased yesterday Gas prices on the UK NBP for the remaining winter months eased yesterday as the gas system recorded a positive supply demand balance with deliveries out-stripping demand by an average of 15MCM throughout the trading day. Prices had soared on Tuesday on […]

Day of records on the NBP as gas prices surpassed previous highs It was a day of records on the NBP as gas prices surpassed previous highs and contracts on the near curve and prompt settled between 71.00p and 82.00p higher.  Prices soared yesterday on the back of reports that showed Russian supplies were reversed […]

The prompt market responded with gains Gas demand increased to 330MCM yesterday on a combination of low temperatures and weak wind generation.  Limited LNG send-out and ongoing exports to Belgium did not help the supply-demand situation.  An opening supply deficit of almost 20MCM on the GB gas system was never re-balanced on Monday and the […]

UK gas market saw another day of fluctuating prices The UK gas market saw another day of fluctuating prices but this time the end result was a decline in near term futures contracts with the Q1 2022 contract shedding almost 13.00p day-on-day.  The near futures market was impacted by a sharp downturn in carbon prices […]

 A tumultuous late part of the session saw prices add significant premium UK gas prices traded somewhat lower for much of the session before a tumultuous late part of the session saw prices add significant premium as the market approached settlement.  There was no discernable pattern to the moves as the front of the curve […]

Early losses on the UK gas market were reversed Better than forecast wind availability helped keep UK gas demand well below the seasonal norm on Wednesday and supply outstripped demand by over 15MCM at 0800.  The surplus dwindled to 3MCM by close of business however and early losses on the UK gas market were reversed […]

More uncertainty on Nord Stream 2 drive prices higher The near curve and prompt gas contracts ramped up on Tuesday as forecasts for low wind later in the week coupled with more uncertainty on Nord Stream 2 to drive prices higher. Concerns were increased as the ongoing tension on the Russia-Ukraine border could delay the […]

European gas prices continued their seemingly relentless rise European gas prices continued their seemingly relentless rise on Monday on concerns over low storage levels and the possible restriction of Russian supply.  Prompt and near futures gas contracts at the NBP gained around 25.00p on a combination of concerns over supply and a sharp rise in […]

The market ignored the supply situation As was the case earlier in the week, the market ignored the supply situation on the day and sentiment was driven by concerns for storage levels.  Prompt and near futures gas contracts gained over 12.00p on the day and the front month was up almost 40.00p week-on-week.  News of […]

Norwegian gas deliveries to the UK returned to normal Norwegian gas deliveries to the UK returned to normal on Thursday with Langeled flowing at full capacity following the resolution of problems on the Troll field.  The more comfortable supply-demand balance on the UK gas system saw some of the premium gained on Wednesday relinquished on […]