Tuesday 17 September 2019
Crude oil prices have softened this morning, but the markets are still wary of the Saudi's response to the weekend attacks or further drone strikes by Houthi rebels
from Yemen. Closer to home, UK gas prices are retreating off yesterday's highs with the front month down by 1.78p to 37.91p. Contracts from the winter out have been slower to retrace yesterday's gains and are around a half a penny down in early exchanges. The prompt has also opened softer today with the spot and day ahead products down by over a penny. UK gas demand is 33% above the seasonal norm this morning and is forecast at 163MCM but supplies are long with a robust LNG send out of 33MCM.