Uncategorised

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 […]

UK NBP gas futures opened with a significant gap up UK NBP gas futures opened with a significant gap up on Monday morning and gains were extended throughout the session.  The front month August contract traded to a high point of 292.30/therm before easing by a modest amount to settle at 282.84p, up by 43.38p […]

 Gas trading was light on Friday Gas trading was light on Friday with the market seeming to pause for breath. Gains had been the order of the day in the last three session as prices firmed across the curve.  Buys on most forward contracts were hard to find although contract past the front did post […]

European prompt prices continued their divergence during Thursday’s session European prompt prices continued their divergence during Thursday’s session, with NBP Day ahead settling at 160.13 pence per therm while the Dutch equivalent at the TTF gas hub settled at 359.99p. Ample LNG supply is the primary reason behind the UK discount, due to robust regasification […]

NBP futures moved sharply higher yesterday European energy prices were driven higher by mounting uncertainty over Russian gas supplies and concerns for French nuclear availability yesterday.  Pipeline flows from Russia through the Nord Stream 1 have been curtailed due to compressors being held up because of sanctions Gazprom have said, and with maintenance on the […]

NBP prompt prices posted gains during Tuesday’s session NBP prompt prices posted gains during Tuesday’s session on the back of stronger than expected demand. The UK system demand was at 214mcm, significantly higher than the seasonal average of 171mcm, as a result Within day settled up 15.00p at 160.05 pence per therm while Day ahead […]

Early gains to the prompt and near curve for the NBP were reversed Early gains to the prompt and near curve for the NBP were reversed early Monday afternoon following news of an unplanned outage at the Ormen Lange Field. The outage at Ormen Lange could curb Norwegian imports by up to 13MCM until the […]

Gas prices were weaker when the market opened Gas price volatility remained a feature during the market on Friday with contracts correcting lower following the previous session’s gains.  Gas prices were weaker when the market opened, and near-term contracts extended losses throughout the session.  The front month July contract fell by over 17.00p as it […]

The UK NBP gas market pushed higher in the session yesterday The UK NBP gas market pushed higher in the session yesterday as doubts about Russian gas supplies fuelled sentiment. Prices rose across the board, with the Winter 2022 contract leading the way, gaining 16.70p to finish at 341.11p. Further out, the Summer 2023 contract […]