Wednesday 09 October 2019
Demand on the UK gas system has increased slightly despite a further increase in wind generation levels but remains 50MCM below the seasonal norm. The system is well balanced with LNG again the
largest single source of supply this morning. The glut of LNG on European markets is largely due to the fact that Spanish LNG storage, the largest in Europe, is full to capacity and shipments are seeking other terminals requiring top-up. The day ahead price at the NBP has eased by another 1.15p and the front month is down by 0.47p on the positive supply outlook. Brent crude remains rangebound and is currently trading at $58.00.