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NBP opened with significant gains on Tuesday Forecasts for cooler temperatures coupled with an under supplied gas system saw prompt and near curve contracts on the NBP open with significant gains on Tuesday. The front month and day ahead contracts were up by 10.00p within the first hour and increases were extended through the session […]

A late rally on the market saw prices increase towards the close Gas contracts at the front of the UK NBP curve remained in negative territory for much of the day before a late rally on the market saw prices increase towards the close. Strong demand from the UK power balancing sector lifted both the […]

UK gas prices moved in different directions on the near and far curve For a second consecutive day, UK gas prices moved in different directions on the near and far curve.  Contracts for the remaining winter months shed an average of 13.18p on Friday but were little changed week-on-week.  Seasonal contracts for Summer 22 and […]

Premium added during the previous session was retraced UK gas prices at the front of the curve opened weaker on Thursday morning and the premium added during the previous session was retraced as the market seemed to change its mind regarding recent capacity booking activity by Gazprom.  Reports of Gazprom capacity bookings or lack of […]

LNG supply is forecast to be plentiful this month Conflicting supply and demand positions led to further increases in prompt and near futures gas prices on Wednesday.  LNG supply is forecast to be plentiful this month and, while the markets took some comfort from Gazprom’s capacity booking on the Yamal pipeline for December, quantities were […]

It was a session of wide intra-day swings on Tuesday It was a session of wide intra-day swings on Tuesday for the front of the NBP curve as early gains were reversed very late in the session with the remaining three winter months settling down day on day.  The front month January, peaked at 258.88p, […]

Wind generation was down to half Friday’s levels Demand on the UK gas system rose to almost 350MCM, or 60MCM above the seasonal norm yesterday.  Temperatures remained below normal and wind generation was down to half Friday’s levels in the morning, although wind did pick up in the afternoon.  Friday’s decline in gas prices was […]

Gazprom has booked no firm capacity  A variety of factors were at play on the markets on Friday.  In another bullish development, it was revealed that Gazprom has booked no firm capacity on the Yamal link to Germany for December.  A more bearish indicator came from weather forecasts which predict temperatures returning to normal this […]

 Some decoupling of gas and carbon prices While low temperatures and a high wind-chill factor ensured strong demand for heating yesterday, overall demand on the UK gas system fell below 300MCM as wind generation rose sharply.  A further surge in carbon prices pushed power prices higher on Thursday but the UK gas market resisted the […]

The gas market opened relatively flat Following the strong gains during the previous session the gas market opened relatively flat with contract moving between modest gains and losses over the course of the morning session.  The supply/demand balance on the day was quite positive with the UK gas system operating with a 14MCM surplus.  This […]