Tuesday 08 October 2019
With temperatures above average for this time of year and wind generation pushing 10GW, demand on the UK gas system has dropped to 176MCM today. This is some 25% below the
seasonal norm and the system is comfortably supplied even as Norwegian deliveries have fallen below 50MCM. LNG send-out remains at 50MCM as fresh cargoes are currently arriving at UK ports at a rate of 2 a week. The slide in prompt gas prices has halted, temporarily at least, with day ahead gas up by 0.65p while the front month contract is up 0.32p. Crude oil remains rangebound with Brent trading just 15 cents up overnight at $58.50 a barrel.