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UK gas market experienced slightly less volatility Following rumours of pre-commissioning work on the Nord Stream 2 pipeline, Gazprom yesterday announced that it expected to ship 5.6bcm on the line by the end of the year.  The sell-off on Western European markets accelerated and while the UK gas market experienced slightly less volatility on Thursday, […]

UK gas prices fell lower again yesterday UK gas prices fell lower again yesterday as extreme volatility punctuated the market with an intra-day swing of almost 15.50p on the front month contract.  September fell as low as 103.05p very briefly in the afternoon before rallying strongly towards close of business to settle at 111.61p or […]

UK NBP seemed to pause and gave up a small proportion of the premium Following the extraordinary surge in European markets on Monday the UK NBP seemed to pause and gave up a small proportion of the premium amassed in the previous session.  The market opened softer initially and oscillated between losses and a flat […]

 NBP futures for September and the winter period gained Gas prices across Europe surged ahead on Monday on expectations for lower exports from Russia in September.  European gas prices had already been inflated due to high demands of LNG in Asia, while a fire at the Russian condensate plant at Novy Urengoy has curbed Russian […]

Within day and day ahead gas prices eased The uncertainty which pervaded the UK gas market on Thursday was overcome by bearish sentiment on Friday despite a sharp rise in demand.  Storge injection rates soared to over 60MCM but the system remained in surplus throughout the day with strong Norwegian deliveries and finished the trading […]

Both the prompt and futures ramped up Early indications pointed to a fall in gas prices on the NBP yesterday as the gas system ran with a healthy surplus and forecasts for increased wind generation expected to reduce gas demand. But prices switched tack and both the prompt and futures ramped up with near futures […]

Demand on the UK gas system stepped up again Demand on the UK gas system stepped up again on Wednesday as storage injection rates of almost 30MCM were maintained throughout the trading day.  A reasonably strong renewable power contribution helped ease gas-fired power demand however and the system ran in surplus throughout.  Prompt prices still […]

 Unplanned outage at the Norwegian Troll field A recurrence of a compressor failure at the Norwegian Troll field caused another unplanned outage and this along with concerns of Russian gas supplies buoyed the gas markets on Monday.  It is estimated that output may be cut by 20MCM for the next few days due to the […]

Prompt gas prices rose strongly Falling oil prices helped to stem the further rise in near futures gas prices yesterday.  The forecast decline in renewable power generation materialised on Monday with renewable sources providing just 10% of GB power demand leading to increased gas demand on the day.  While the system remained comfortably supplied, prompt […]

On the prompt, the week ahead contract gained Western European markets continue to show concern for supply and this concern has moved beyond the front winter contract as Summer 22 gained over 10% last week.  There was less volatility on the market on Friday with gas price movement at the NBP of less than a […]