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UK gas system began the week in deficit The UK gas system began the week in deficit as renewable power generation fell off and gas-fired power generation was called on.  The early supply deficit on the system was reversed and supply outstripped demand slightly for most of the day yesterday.  Norwegian deliveries increased despite the […]

UK gas prices eased on Friday News of the return to service of the giant Norwegian Troll field from Tuesday helped bring some easing to UK gas prices on Friday for the first-time last week. Renewable power generation fell to half the previous day’s levels, adding significant extra demand to the UK gas system on […]

NBP continued to climb Natural gas futures on the NBP continued to climb into new territory on Thursday as Europe braces itself for tight supplies ahead of the winter.  Near futures rose steadily through the day with activity focusing on the August contract which expired on ICE yesterday.  Near months added an average of 3.50p […]

Prompt prices recorded moderate gains Declining LNG storage stocks and the ongoing restriction of Norwegian deliveries due to the Troll outage left the UK gas system in deficit for most of the day yesterday.  The UK gas market response was focused on the impact for mid-term supply as increasing wind availability relieved gas demand somewhat […]

Gas market opened firmed on Tuesday The gas market opened firmed on Tuesday morning extending the gains from the previous session.  these increases came about despite an improvement in gas fundamentals with the system operating with a surplus of 5MCM on a forecast demand of 128MCM.  The unplanned outage on the Norwegian Troll gas field […]

 UK gas market was in bullish mode The week began with similar volatility to last Monday, but the UK gas market was in bullish mode yesterday.  Near futures gas contracts gained almost 5% on the day with some mid-winter months hitting 95.00p.  The front month gained 4.55p to settle at 92.99p while the full winter […]

Overall renewable generation doubled day-on-day Overall renewable generation doubled day-on-day and The UK gas system maintained a supply surplus averaging 7.5MCM throughout the trading day on Friday.  The more comfortable supply situation was made possible by increased wind generation, reducing gas-fired power demand.  With no new price drivers in play, prompt and near futures gas […]

Prompt close marginally down Once again, a tight gas system saw prompt and near curve contracts for the NBP rise through the morning on Thursday, but prices fell back later in the session leaving the prompt to close marginally down. There was a compressor issue at the Troll field which curbed supplies as Langeled flows […]

 UK gas market resumed its upward trajectory The UK gas market resumed its upward trajectory on Wednesday as the short to medium term supply outlook remains poor.  The return of the Nord Stream 1 pipeline from maintenance on Friday should see some relief for Western European markets but storage levels remain worryingly low, suggesting that […]

 The see saw nature of the UK NBP gas market continued The see saw nature of the UK NBP gas market continued during Tuesday session with prices opening weaker from the off.  Over the last five sessions gas contract have shed over 4.00p per therm in premium in two days only to be followed by […]