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The gas market was in relatively benign mood in early trading For the second day in a row temperatures across the UK and Ireland remained above the seasonal norm and gas demand fell off as a result.  Demand forecasts for Tuesday were coming in just below the 267MCM mark and line pack was expected to […]

 Prompt and near futures gas prices at the NBP fell sharply again Temperatures recovered substantially quelling heating demand across the UK and Ireland on Monday. Prompt and near futures gas prices at the NBP fell sharply again as demand moved below 300MCM with the rapidly rising temperatures. Although well below Friday’s near record highs, wind […]

 Near futures contracts recorded modest gains following the steep losses of the previous 3 sessions While temperatures remained well below the seasonal norm, demand on the UK gas system fell significantly as wind generation provided almost 30% of GB power demand on Friday. The surge in wind generation reduced gas-fired power demand and the gas […]

 High LNG send out calmed fears of tight supplies in the UK High LNG send out calmed fears of tight supplies in the UK yesterday pressuring the prompt and futures market. In December and January concerns were raised of LNG cargoes being diverted to Japan while the EAX, the Asian LNG price, soared on account […]

Demand climbed to a new winter-to-date high of 412MCM As demand climbed to a new winter-to-date high of 412MCM, deliveries remained ahead of demand throughout the trading day and prompt gas prices fell as a result. The day ahead contract shed 2.45p while the balance of month contract was down by 3.05p as milder weather […]

The system was comfortable with a surplus of 12MCM throughout the day While Wintry conditions continued over the UK and Ireland, the gas market seemed to be less concerned on Tuesday as much of the premium added in the previous session evaporated.  Demand remains high and on par with the previous day at 401MCM.  The […]

 Prompt gas prices, which had opened sharply higher, went on to register further gains As temperatures fell to below zero in parts of the UK over the weekend, the cold spell intensified yesterday, pushing demand on the UK gas system to almost 400MCM. Wind generation accounted for 25% of GB power demand on the day, […]

The day ahead contract gained a penny but movement on the prompt market was otherwise mixed. UK gas prices gained for a second consecutive day on Friday, but it was not enough to overcome the sharp losses of earlier in the week and near futures prices finished lower week-on-week. Futures contracts at the NBP recorded […]

The near curve continued to move higher through the afternoon with February peaking at 58.65p Forecasts for cooler temperatures along with low winds for the start of February spurred on the prompt and near curve on the NBP yesterday. The front month contract, February, which expired on ICE yesterday came out of the blocks with […]

 The front month contract recorded the most significant move on the day Lower heating and gas-fired power generation saw demand on the UK gas system running just under 300MCM and deliveries ran 10 to 15MCM long yesterday. The well-supplied gas system remained in surplus throughout the trading day and prompt gas prices eased by an […]