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Gazprom to prioritize domestic supplies The focus of the UK and general European gas market remains firmly on the prospect of supplies from Russia for the coming Winter.  For the second session in a row significant premium was added to near term contract and further premium reverberated across the wider curve.  The market was responding […]

News of a significant pick-up in LNG deliveries to the UK News of a significant pick-up in LNG deliveries to the UK was countered yesterday by a fall-off in Russian supply to Western Europe, bringing the downward trend in European gas prices of the previous 5 days to an abrupt end.  LNG deliveries are set […]

Demand is expected to pick up for the remainder of the week The GB gas system operated with a modest surplus for most of the day yesterday as demand ran up to 207MCM but prompt prices at the NBP continued to rack up gains.  Demand is expected to pick up for the remainder of the […]

UK gas system was comfortably supplied throughout the trading day UK prompt and futures markets moved in different directions on Monday with prompt prices gaining strongly on the day. While the UK gas system was comfortably supplied throughout the trading day, within day and day ahead contracts gained 16.50p and 16.90p respectively as gas-fired power […]

UK gas prices eased significantly for a third consecutive day The modest increase in Russian deliveries to Western Europe continued to alleviate pressure on gas prices on Friday. UK gas prices eased significantly for a third consecutive day on Friday and finished lower week-on-week for the first time in 3 months. Having briefly traded above […]

Gas markets across Europe settled lower Gas markets across Europe settled lower for the second session in a row as the announcement from Vladimir Putin that Gazprom will send additional gas to Western Europe provided some relief.  The additional flows are scheduled to come through the Yamal pipeline into Poland and will add an overall […]

UK and Western European gas markets rocketed UK and Western European gas markets rocketed on Wednesday morning with gains of around 33% on market opening.  A forecast cold spell for later this month and early November, combined with low storage levels pushed UK gas prices up by over 100.00p in the most extreme volatility ever […]

NBP futures at record highs yesterday Forecasts for cooler temperatures from the weekend drove near curve NBP futures to record highs yesterday with many contracts trading above 300.00p per therm.  The market appears to have over-reacted to this news but the low levels of gas in storage across Europe has heightened concerns for supplies.  Wind […]

 Early softening in gas futures at market opening was reversed Despite lower wind availability on Monday, UK gas demand fell back from Friday’s levels as temperatures picked up slightly.  An early supply surplus of 22MCM was eroded as demand increased over the course of the day but the system still finished 2MCM long.  The spot […]

 Little evidence of any major improvement in the supply situation Massive gains in gas prices for the winter months resulted in a cumulative increase of over 33% over the first 4 days of last week.  The market turned on Friday with the new front month contract for November shedding 9.92p but the contract was still […]