A short gas system provided support to prompt prices on the NBP A short gas system provided support to prompt prices on the NBP on Tuesday as the spot and day ahead contracts settled 2.10p and 1.25p higher respectively. Gas demand was up at 333MCM on account of extra gas fired generators being required to […]
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Brent has shed further as the market anticipates a relaxation of OPEC production limits
Demand on the UK gas system climbed above the seasonal norm As gas-fired power generation was called on to provide over 50% of GB power demand, demand on the UK gas system climbed above the seasonal norm yesterday. Wind generation dropped to just 2GW and the surge in gas-fired generation pushed overall demand to almost […]
Carbon prices are recovering after 3 days of losses at the end of last week
Gas-fired generation demand pushed overall demand sharply higher UK gas futures see-sawed last week and finished with just marginal movement in either direction on Friday, leaving near futures contracts lower by an average of 1.25p week-on-week. As wind generation fell to just 4GW on Friday, gas-fired generation demand pushed overall demand sharply higher and the […]
Brent rose to highest levels in almost 14 months
UK gas system remained well balanced with demand still well below the seasonal norm Thursday was the last day of trading for the March futures contract on ICE and the focus was on that product in the market. After a slow start, March opened softer and the losses extended through the day as the product […]
Crude oil production in the States fell to a 2-year low
Reduced, but still robust wind generation levels also helped keep overall gas demand subdued With temperatures remaining above the seasonal norm across Ireland and the UK, demand on the UK gas system remained some 80MCM, or 25%, below normal for this time of year. Reduced, but still robust wind generation levels also helped keep overall […]
Crude oil contracts pulled away from its recent high
The NBP gas market made a valiant to recover some of the losses from the previous session UK gas demand declined day on day as the projected increase in wind generation materialized and demand from conventional generation dropped. As a result, forecast demand was projected at 220MCM with supplies running close to that figure and […]
The market is expecting a big decline in U.S. oil inventories
The positive supply-demand balance saw prompt and near futures gas prices fall again Heating demand fell below 200MCM for a weekday for the first time this year. Although gas-fired power demand remained high due to low wind availability, overall demand on the UK gas system averaged just over 250MCM and deliveries maintained a 5MCM cushion […]
The oil market has turned bullish again with Brent crude up
Demand on the UK gas system fell further Gas prices at the NBP relinquished most of Thursday’s gains on Friday which was enough to see the market finish lower for a third consecutive week. As demand on the UK gas system fell further with rising temperatures, gas prices shed premium across the board on the […]
Power prices had declined since the start of the week
UK gas demand remained below the norm UK gas demand remained below the norm yesterday as supplies for power generation reduced to 37MCM leaving gas demand just above 200MCM. The system ran long for much of the session, but concerns were raised that the severe cold snap in Texas which has interrupted power supplies across […]
Carbon prices have edged higher in early trading
Prompt gas prices fell by an average of a penny per therm Above normal temperatures and strong wind generation levels saw demand on the UK gas system fall for a third consecutive day. The system was again well-supplied with demand remaining below 250MCM throughout the day. Early gains on the UK gas market were reversed […]
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