A significant sell off on gas contracts occurred Further progress has been made in the process of allowing Gazprom to begin exports of Russian gas via the Nord stream 2 pipeline to Western Europe. Germany’s Economy and Energy Minister released a positive assessment of the pipelines potential impact on supply security. This outcome moves the […]
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Energy market prices have eased
Gas prices for the remaining winter months eased Gas prices for the remaining winter months eased yesterday as the supply outlook improved with the German Energy Ministry giving the green light to the Nord Stream 2 pipeline. The limited losses reflected the fact that the pipeline still has several steps to complete, including before final […]
Increased wind generation weighed on prompt prices
Futures were switching between gains and losses for much of the session Lower demand on the GB gas system countered forecasts for cooler temperatures yesterday as prompt prices eased in the morning but rebounded later when the gas system ran short. The spot closed 3.50p higher while the day-ahead gained 2.00p to close at 209.05p. […]
The global benchmark reaches a 7-year high
Spot and day ahead prices gained marginally An early supply shortfall on the UK gas system saw prompt and near futures prices gain strongly in early trading on Monday. LNG send-out increased to 45MCM through the day as demand remained stagnant, helping turn the system into surplus by midday. Prices fell back in the afternoon […]
UK gas market settled lower week-on-week
Prompt gas prices eased on forecast higher temperatures A second day of below normal temperatures pushed demand on the UK gas system to a season-to-date high of over 240MCM on Friday, but the supply side maintained a surplus for most of the trading day. Prompt gas prices eased on forecast higher temperatures for this week […]
The UK is expecting up to 6 cargoes of LNG by mid-November
Winter months declined by an average of 12.50p on Thursday The winter months declined by an average of 12.50p on Thursday, reversing the gains from the previous session and some. The front month settled at 221.40p, its lowest close in ten days. NBP futures for summer-22 settled 4.04p down at 111.05p while contracts further out […]
EU ETS unit prices rebounded strongly
LNG shipments ramping up over the next 3 weeks The recent see-saw pattern of movement in UK gas prices continued on Wednesday with near futures contracts recovering most of Tuesday’s losses. The front month gained 7.90p to settle at 233.81p. Prices were still down on a week ago when contracts for the current winter months […]
The impact of gas markets pulling oil upwards remains
Contracts moved between gains and losses across the day The UK gas market displayed a slightly different side on Tuesday and although contracts moved between gains and losses across the day, we did not see the wild swings in prices that have been a feature of late. The market opened lower from the outset and […]
Positive news of Russian supply via Nord Stream 2 emerged
Prompt gas contracts gained As has been the case in recent weeks, Monday saw UK gas prices surge higher but unlike previous weeks, prices fell back again later. The market actually opened lower, but prices took off mid-morning with intra-day gains of up to 35.00p on contracts for the current winter months. The market was […]
A week-on-week rise of approximately 5% in near futures prices
Prompt gas contracts shed an average of 34.00p but remained just over 200.00p Early trading at the UK NBP suggested another day of rising prices on Friday but, after posting early marginal gains, prices levelled off and began falling heavily late morning with contracts for the current winter months finishing 23.00 to 24.00p lower day-on-day. […]
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