Friday 13 September 2019
UK gas demand is forecast to hit 161MCM today and supplies are comfortable but lagging by just 2MCM. The prompt has opened firmer with the spot and day ahead products trading over
2.00p higher. On the curve, there continues to be some volatility on near contracts as October has added a half a penny while the front winter is 0.20p up and longer curve contracts have eased by around 0.35p. Crude oil prices have continued to slip this morning as the market is concerned of a global slowdown after reports from the International Energy Agency pointed to an oil surplus in 2020 despite the production cuts by OPEC.