Market Report – Gas

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Live Graph

View by Date Range:

Date	Price
10/08/2015	40.74
11/08/2015	41.43
12/08/2015	40.38
13/08/2015	40.43
14/08/2015	40.63
17/08/2015	40.11
18/08/2015	39.80
19/08/2015	38.46
20/08/2015	37.78
21/08/2015	37.83
24/08/2015	36.81
25/08/2015	37.36
26/08/2015	38.28
27/08/2015	38.38
28/08/2015	38.25
01/09/2015	40.03
02/09/2015	40.91
03/09/2015	41.38
04/09/2015	41.78
07/09/2015	42.06
08/09/2015	41.80
09/09/2015	41.45
10/09/2015	41.35
11/09/2015	41.71
14/09/2015	41.88
15/09/2015	41.28
16/09/2015	41.68
17/09/2015	41.36
18/09/2015	40.70
21/09/2015	40.48
22/09/2015	40.75
23/09/2015	41.06
24/09/2015	40.88
25/09/2015	41.00
28/09/2015	40.00
29/09/2015	40.05
30/09/2015	39.36
01/10/2015	38.98
02/10/2015	38.21
05/10/2015	39.05
06/10/2015	40.18
07/10/2015	40.15
08/10/2015	41.10
09/10/2015	41.23
12/10/2015	40.18
13/10/2015	39.95
14/10/2015	39.73
15/10/2015	39.80
16/10/2015	40.05
19/10/2015	41.40
20/10/2015	40.13
21/10/2015	40.19
22/10/2015	39.71
23/10/2015	39.15
26/10/2015	38.58
27/10/2015	38.50
28/10/2015	38.70
29/10/2015	38.30
30/10/2015	37.01
02/11/2015	37.09
03/11/2015	36.80
04/11/2015	36.71
05/11/2015	35.00
06/11/2015	35.15
09/11/2015	34.35
10/11/2015	34.18
11/11/2015	33.55
12/11/2015	34.25
13/11/2015	32.25
16/11/2015	34.55
17/11/2015	35.18
18/11/2015	36.05
19/11/2015	37.28
20/11/2015	37.03
23/11/2015	37.38
24/11/2015	37.08
25/11/2015	37.41
26/11/2015	37.45
27/11/2015	37.03
30/11/2015	38.20
01/12/2015	38.00
02/12/2015	38.03
03/12/2015	37.46
04/12/2015	37.70
07/12/2015	36.60
08/12/2015	36.86
09/12/2015	36.39
10/12/2015	36.21
11/12/2015	35.51
14/12/2015	34.70
15/12/2015	34.20
16/12/2015	33.33
17/12/2015	31.95
18/12/2015	31.58
21/12/2015	31.75
22/12/2015	31.65
23/12/2015	30.48
24/12/2015	30.85
29/12/2015	32.73
30/12/2015	32.58
31/12/2015	32.51
04/01/2016	32.58
05/01/2016	33.23
06/01/2016	34.55
07/01/2016	34.93
08/01/2016	33.70
11/01/2016	33.70
12/01/2016	32.55
13/01/2016	33.38
14/01/2016	32.35
15/01/2016	32.23
18/01/2016	32.70
19/01/2016	32.63
20/01/2016	30.70
21/01/2016	29.60
22/01/2016	30.59
25/01/2016	29.33
26/01/2016	29.60
27/01/2016	30.55
28/01/2016	31.29
29/01/2016	30.43
01/02/2016	29.68
02/02/2016	29.83
03/02/2016	29.43
04/02/2016	28.68
05/02/2016	28.70
08/02/2016	29.26
09/02/2016	29.23
10/02/2016	28.98
11/02/2016	29.00
12/02/2016	29.68
15/02/2016	29.76
16/02/2016	30.15
17/02/2016	30.35
18/02/2016	29.45
19/02/2016	28.78
22/02/2016	30.23
23/02/2016	30.54
24/02/2016	30.43
25/02/2016	30.05
26/02/2016	30.35
29/02/2016	30.36
01/03/2016	30.60
02/03/2016	30.33
03/03/2016	30.85
04/03/2016	30.13
07/03/2016	30.06
08/03/2016	30.23
09/03/2016	29.84
10/03/2016	29.55
11/03/2016	29.35
14/03/2016	29.45
15/03/2016	30.01
16/03/2016	29.98
17/03/2016	30.05
18/03/2016	29.70
21/03/2016	28.93
22/03/2016	28.56
23/03/2016	29.16
24/03/2016	29.10
29/03/2016	28.63
30/03/2016	28.73
31/03/2016	29.38
01/04/2016	28.55
04/04/2016	27.85
05/04/2016	27.69
06/04/2016	27.86
07/04/2016	27.63
08/04/2016	27.60
11/04/2016	27.16
12/04/2016	27.65
13/04/2016	27.78
14/04/2016	27.93
15/04/2016	28.08
18/04/2016	28.90
19/04/2016	29.10
20/04/2016	28.70
21/04/2016	30.63
22/04/2016	31.70
25/04/2016	31.58
26/04/2016	34.75
27/04/2016	34.48
28/04/2016	31.55
29/04/2016	31.20
03/05/2016	29.05
04/05/2016	28.36
05/05/2016	29.35
06/05/2016	29.68
09/05/2016	30.58
10/05/2016	30.18
11/05/2016	30.68
12/05/2016	30.43
13/05/2016	30.29
16/05/2016	30.99
17/05/2016	30.81
18/05/2016	30.40
19/05/2016	29.50
20/05/2016	30.06
23/05/2016	29.98
24/05/2016	29.54
25/05/2016	29.50
26/05/2016	30.99
27/05/2016	31.89
31/05/2016	33.73
01/06/2016	34.34
02/06/2016	35.25
03/06/2016	34.63
06/06/2016	35.66
07/06/2016	35.20
08/06/2016	33.58
09/06/2016	33.68
10/06/2016	33.25
13/06/2016	32.84
14/06/2016	33.70
15/06/2016	33.33
16/06/2016	34.26
17/06/2016	34.41
20/06/2016	35.08
21/06/2016	34.40
22/06/2016	33.59
23/06/2016	33.65
24/06/2016	34.80
27/06/2016	34.70
28/06/2016	33.64
29/06/2016	34.63
30/06/2016	33.83
01/07/2016	33.73
04/07/2016	34.48
05/07/2016	33.95
06/07/2016	34.13
07/07/2016	34.18
08/07/2016	33.40
11/07/2016	33.31
12/07/2016	33.85
13/07/2016	33.30
14/07/2016	32.78
15/07/2016	32.48
18/07/2016	33.60
19/07/2016	33.93
20/07/2016	34.63
21/07/2016	35.73
22/07/2016	35.95
25/07/2016	36.93
26/07/2016	36.35
27/07/2016	36.00
28/07/2016	35.00
29/07/2016	34.55
01/08/2016	34.08
02/08/2016	33.83
03/08/2016	33.26
04/08/2016	34.76
05/08/2016	33.15
08/08/2016	33.23
09/08/2016	33.23
10/08/2016	32.73
11/08/2016	32.16
12/08/2016	30.75
15/08/2016	29.43
16/08/2016	30.10
17/08/2016	29.50
18/08/2016	29.10
19/08/2016	27.05
22/08/2016	28.66
23/08/2016	29.53
24/08/2016	27.98
25/08/2016	28.25
26/08/2016	28.80
30/08/2016	26.85
31/08/2016	23.00
01/09/2016	21.33
02/09/2016	25.33
05/09/2016	27.78
06/09/2016	27.40
07/09/2016	24.38
08/09/2016	23.88
09/09/2016	23.28
12/09/2016	20.51
13/09/2016	22.08
14/09/2016	21.15
15/09/2016	26.05
16/09/2016	28.68
19/09/2016	31.85
20/09/2016	29.93
21/09/2016	32.01
22/09/2016	33.03
23/09/2016	33.90
26/09/2016	34.01
27/09/2016	32.83
28/09/2016	33.91
29/09/2016	35.78
30/09/2016	34.90
03/10/2016	32.30
04/10/2016	35.73
05/10/2016	37.35
06/10/2016	40.51
07/10/2016	41.00
10/10/2016	41.03
11/10/2016	42.03
12/10/2016	41.50
13/10/2016	42.18
14/10/2016	42.35
17/10/2016	43.03
18/10/2016	44.68
19/10/2016	45.01
20/10/2016	46.13
21/10/2016	45.55
24/10/2016	46.49
25/10/2016	47.46
26/10/2016	46.22
27/10/2016	46.25
28/10/2016	45.58
31/10/2016	46.98
01/11/2016	49.78
02/11/2016	52.42
03/11/2016	50.80
04/11/2016	49.80
07/11/2016	49.43
08/11/2016	48.75
09/11/2016	48.95
10/11/2016	49.00
11/11/2016	48.30
14/11/2016	48.25
15/11/2016	46.35
16/11/2016	47.50
17/11/2016	46.90
18/11/2016	48.20
21/11/2016	46.60
22/11/2016	46.90
23/11/2016	47.50
24/11/2016	46.90
25/11/2016	47.75
28/11/2016	48.30
29/11/2016	49.50
30/11/2016	48.60
01/12/2016	49.35
02/12/2016	49.00
05/12/2016	47.00
06/12/2016	44.60
07/12/2016	43.75
08/12/2016	42.20
09/12/2016	44.00
12/12/2016	44.35
13/12/2016	44.20
14/12/2016	44.25
15/12/2016	45.50
16/12/2016	45.25
19/12/2016	45.25
20/12/2016	45.95
21/12/2016	45.60
22/12/2016	46.00
23/12/2016	48.00
27/12/2016	46.30
28/12/2016	46.35
29/12/2016	48.80
30/12/2016	49.30
03/01/2017	48.20
04/01/2017	50.10
05/01/2017	51.00
06/01/2017	50.60
09/01/2017	50.80
10/01/2017	52.75
11/01/2017	55.50
12/01/2017	56.25
13/01/2017	54.40
16/01/2017	53.30
17/01/2017	55.00
18/01/2017	53.40
19/01/2017	55.20
20/01/2017	54.75
23/01/2017	55.75
24/01/2017	56.50
25/01/2017	55.25
26/01/2017	53.00
27/01/2017	51.20
30/01/2017	52.12
31/01/2017	55.95
01/02/2017	57.20
02/02/2017	58.45
03/02/2017	61.25
06/02/2017	60.00
07/02/2017	59.30
08/02/2017	55.60
09/02/2017	55.50
10/02/2017	52.70
13/02/2017	52.00
14/02/2017	50.15
15/02/2017	48.80
16/02/2017	50.50
17/02/2017	48.35
20/02/2017	47.95
21/02/2017	46.95
22/02/2017	45.50
23/02/2017	47.50
24/02/2017	46.00
27/02/2017	45.95
28/02/2017	45.60
01/03/2017	43.85
02/03/2017	44.90
03/03/2017	43.30
06/03/2017	42.45
07/03/2017	43.75
08/03/2017	42.20
09/03/2017	42.10
10/03/2017	42.30
13/03/2017	41.00
14/03/2017	41.40
15/03/2017	41.85
16/03/2017	41.75
17/03/2017	41.50
20/03/2017	41.20
21/03/2017	41.45
22/03/2017	39.85
23/03/2017	40.12
24/03/2017	39.15
27/03/2017	38.10
28/03/2017	38.20
29/03/2017	38.15
30/03/2017	39.85
31/03/2017	40.00
03/04/2017	40.25
04/04/2017	41.50
05/04/2017	41.00
06/04/2017	41.00
07/04/2017	40.85
10/04/2017	39.70
11/04/2017	38.65
12/04/2017	38.70
13/04/2017	39.00
18/04/2017	39.40
19/04/2017	39.80
20/04/2017	39.00
21/04/2017	39.40
24/04/2017	41.00
25/04/2017	40.50
26/04/2017	40.50
27/04/2017	41.50
28/04/2017	40.75
02/05/2017	42.00
03/05/2017	42.50
04/05/2017	41.00
05/05/2017	41.50
08/05/2017	45.71
09/05/2017	43.25
10/05/2017	40.55
11/05/2017	39.65
12/05/2017	37.80
15/05/2017	39.50
16/05/2017	39.75
17/05/2017	40.40
18/05/2017	41.20
19/05/2017	39.00
22/05/2017	36.85
23/05/2017	36.75
24/05/2017	37.90
25/05/2017	36.40
26/05/2017	36.50
30/05/2017	37.75
31/05/2017	37.00
01/06/2017	37.55
02/06/2017	36.60
05/06/2017	37.20
06/06/2017	36.15
07/06/2017	36.50
08/06/2017	37.20
09/06/2017	37.50
12/06/2017	36.85
13/06/2017	33.75
14/06/2017	34.40
15/06/2017	25.25
16/06/2017	30.00
19/06/2017	33.00
20/06/2017	33.25
21/06/2017	35.30
22/06/2017	35.35
23/06/2017	36.00
26/06/2017	37.00
27/06/2017	37.15
28/06/2017	38.10
29/06/2017	39.25
30/06/2017	35.75
03/07/2017	37.50
04/07/2017	37.50
05/07/2017	37.50
06/07/2017	37.25
07/07/2017	36.40
10/07/2017	36.25
11/07/2017	34.90
12/07/2017	34.40
13/07/2017	33.20
14/07/2017	33.00
17/07/2017	33.70
18/07/2017	35.90
19/07/2017	34.80
20/07/2017	36.25
21/07/2017	37.30
24/07/2017	36.60
25/07/2017	36.50
26/07/2017	37.75
27/07/2017	38.18
28/07/2017	38.40
31/07/2017	39.45
01/08/2017	38.70
02/08/2017	37.70
03/08/2017	38.25
04/08/2017	39.60
07/08/2017	41.50
08/08/2017	41.30
09/08/2017	42.00
10/08/2017	42.20
11/08/2017	42.20
14/08/2017	42.20
15/08/2017	41.50
16/08/2017	42.25
17/08/2017	43.40
18/08/2017	44.00
21/08/2017	45.10
22/08/2017	43.90
23/08/2017	44.00
24/08/2017	45.40
25/08/2017	44.50
29/08/2017	44.85
30/08/2017	46.38
31/08/2017	45.10
01/09/2017	45.20
04/09/2017	45.00
05/09/2017	45.95
06/09/2017	45.50
07/09/2017	46.00
08/09/2017	46.05
11/09/2017	46.50
12/09/2017	47.10
13/09/2017	47.00
14/09/2017	47.55
15/09/2017	47.20
18/09/2017	47.50
19/09/2017	46.75
20/09/2017	46.45
21/09/2017	45.25
22/09/2017	44.50
25/09/2017	45.00
26/09/2017	47.30
27/09/2017	45.40
28/09/2017	47.10
29/09/2017	45.05
02/10/2017	44.00
03/10/2017	44.70
04/10/2017	46.25
05/10/2017	47.75
06/10/2017	47.30
09/10/2017	49.00
10/10/2017	48.45
11/10/2017	45.00
12/10/2017	43.40
13/10/2017	43.70
16/10/2017	44.00
17/10/2017	45.00
18/10/2017	45.00
19/10/2017	44.75
20/10/2017	46.00
23/10/2017	44.65
24/10/2017	44.40
25/10/2017	46.60
26/10/2017	46.40
27/10/2017	45.65
30/10/2017	46.50
31/10/2017	48.20
01/11/2017	48.50
02/11/2017	48.40
03/11/2017	49.50
06/11/2017	49.90
07/11/2017	51.70
08/11/2017	51.10
09/11/2017	51.75
10/11/2017	52.75
13/11/2017	53.60
14/11/2017	53.20
15/11/2017	51.75
16/11/2017	52.30
17/11/2017	51.75
20/11/2017	52.45
21/11/2017	53.15
22/11/2017	53.50
23/11/2017	54.45
24/11/2017	56.90
27/11/2017	57.25
28/11/2017	56.90
29/11/2017	56.90
30/11/2017	55.43
01/12/2017	57.10
04/12/2017	59.15
05/12/2017	58.75
06/12/2017	56.25
07/12/2017	58.55
08/12/2017	58.20
11/12/2017	61.05
12/12/2017	80.10
13/12/2017	67.00
14/12/2017	59.90
15/12/2017	60.85
18/12/2017	60.25
19/12/2017	59.10
20/12/2017	58.35
21/12/2017	57.50
22/12/2017	57.00
27/12/2017	55.35
28/12/2017	55.65
29/12/2017	55.95
02/01/2018	53.50
03/01/2018	52.50
04/01/2018	52.30
05/01/2018	53.20
08/01/2018	53.20
09/01/2018	53.48
10/01/2018	53.30
11/01/2018	53.25
12/01/2018	53.98
15/01/2018	52.00
16/01/2018	52.40
17/01/2018	50.85
18/01/2018	49.80
19/01/2018	49.85
22/01/2018	49.20
23/01/2018	49.35
24/01/2018	48.60
25/01/2018	48.25
26/01/2018	48.20
29/01/2018	47.90
30/01/2018	47.80
31/01/2018	49.30
01/02/2018	49.00
02/02/2018	52.20
05/02/2018	50.95
06/02/2018	49.90
07/02/2018	48.35
08/02/2018	50.75
09/02/2018	50.20
12/02/2018	49.90
13/02/2018	52.25
14/02/2018	50.90
15/02/2018	49.95
16/02/2018	50.20
19/02/2018	53.70
20/02/2018	56.50
21/02/2018	58.30
22/02/2018	61.50
23/02/2018	78.90
26/02/2018	65.00
27/02/2018	74.50
28/02/2018	55.25
01/03/2018	115.00
02/03/2018	86.00
05/03/2018	53.00
06/03/2018	54.00
07/03/2018	53.40
08/03/2018	51.70
09/03/2018	53.30
12/03/2018	80.00
13/03/2018	67.00
14/03/2018	64.50
15/03/2018	61.00
16/03/2018	77.00
19/03/2018	55.00
20/03/2018	56.10
21/03/2018	58.00
22/03/2018	55.40
23/03/2018	53.90
26/03/2018	51.75
27/03/2018	49.10
28/03/2018	50.70
29/03/2018	51.00
03/04/2018	49.00
04/04/2018	49.50
05/04/2018	48.80
06/04/2018	49.00
09/04/2018	49.50
10/04/2018	50.10
11/04/2018	51.25
12/04/2018	52.50
13/04/2018	52.00
16/04/2018	51.20
17/04/2018	49.50
18/04/2018	49.10
19/04/2018	50.50
20/04/2018	51.80
23/04/2018	51.40
24/04/2018	51.70
25/04/2018	51.20
26/04/2018	52.20
27/04/2018	52.30
30/04/2018	52.60
01/05/2018	54.45
02/05/2018	54.20
03/05/2018	53.00
04/05/2018	51.75
08/05/2018	53.50
09/05/2018	54.35
10/05/2018	53.85
11/05/2018	53.80
14/05/2018	54.75
15/05/2018	56.50
16/05/2018	55.55
17/05/2018	57.70
18/05/2018	56.70
21/05/2018	56.00
22/05/2018	58.90
23/05/2018	58.63
24/05/2018	59.10
25/05/2018	57.20
29/05/2018	56.90
30/05/2018	59.75
31/05/2018	59.45
01/06/2018	59.00
04/06/2018	56.75
05/06/2018	58.90
06/06/2018	57.60
07/06/2018	57.00
08/06/2018	57.90
11/06/2018	55.65
12/06/2018	54.20
13/06/2018	55.25
14/06/2018	58.25
15/06/2018	56.75
18/06/2018	54.75
19/06/2018	55.25
20/06/2018	53.75
21/06/2018	52.45
22/06/2018	53.00
25/06/2018	53.50
26/06/2018	52.50
27/06/2018	54.60
28/06/2018	55.10
29/06/2018	53.70
02/07/2018	55.00
03/07/2018	56.70
04/07/2018	56.85
05/07/2018	56.00
06/07/2018	58.05
09/07/2018	58.60
10/07/2018	59.80
11/07/2018	58.20
12/07/2018	58.00
13/07/2018	57.55
16/07/2018	59.20
17/07/2018	57.80
18/07/2018	57.80
19/07/2018	58.75
20/07/2018	58.30
23/07/2018	58.80
24/07/2018	58.45
25/07/2018	58.70
26/07/2018	57.90
27/07/2018	57.60
30/07/2018	57.90
31/07/2018	58.00
01/08/2018	57.80
02/08/2018	58.40
03/08/2018	58.70
06/08/2018	59.05
07/08/2018	59.10
08/08/2018	60.05
09/08/2018	58.80
10/08/2018	58.60
13/08/2018	60.80
14/08/2018	62.25
15/08/2018	60.55
16/08/2018	60.60
17/08/2018	62.10
20/08/2018	62.70
21/08/2018	65.85
22/08/2018	65.00
23/08/2018	65.55
24/08/2018	66.80
28/08/2018	68.55
29/08/2018	68.35
30/08/2018	70.70
31/08/2018	70.60
03/09/2018	70.60
04/09/2018	71.80
05/09/2018	72.50
06/09/2018	73.90
07/09/2018	74.85
10/09/2018	76.15
11/09/2018	75.35
12/09/2018	73.35
13/09/2018	72.10
14/09/2018	70.55
17/09/2018	72.90
18/09/2018	72.45
19/09/2018	71.60
20/09/2018	76.25
21/09/2018	75.85
24/09/2018	80.00
25/09/2018	79.55
26/09/2018	76.85
27/09/2018	75.10
28/09/2018	73.60
01/10/2018	68.10
02/10/2018	72.50
03/10/2018	70.85
04/10/2018	70.75
05/10/2018	70.50
08/10/2018	70.10
09/10/2018	68.80
10/10/2018	67.30
11/10/2018	63.25
12/10/2018	64.60
15/10/2018	70.10
16/10/2018	68.10
17/10/2018	64.60
18/10/2018	67.40
19/10/2018	68.10
22/10/2018	67.35
23/10/2018	64.60
24/10/2018	66.05
25/10/2018	64.30
26/10/2018	66.60
29/10/2018	64.80
30/10/2018	65.30
31/10/2018	65.10
01/11/2018	62.10
02/11/2018	61.60
05/11/2018	59.85
06/11/2018	60.50
07/11/2018	62.30
08/11/2018	64.35
09/11/2018	63.50
12/11/2018	64.85
13/11/2018	66.10
14/11/2018	67.10
15/11/2018	71.10
16/11/2018	72.10
19/11/2018	64.10
20/11/2018	66.60
21/11/2018	65.85
22/11/2018	65.80
23/11/2018	67.00
26/11/2018	65.35
27/11/2018	64.60
28/11/2018	63.75
29/11/2018	63.60
30/11/2018	63.00
03/12/2018	66.80
04/12/2018	64.70
05/12/2018	63.70
06/12/2018	61.30
07/12/2018	61.10
10/12/2018	62.60
11/12/2018	64.00
12/12/2018	65.10
13/12/2018	66.40
14/12/2018	66.35
17/12/2018	67.10
18/12/2018	65.35
19/12/2018	65.80
20/12/2018	66.08
21/12/2018	67.10
24/12/2018	66.40
27/12/2018	64.03
28/12/2018	63.70
31/12/2018	61.50
02/01/2019	60.30
03/01/2019	61.00
04/01/2019	60.85
07/01/2019	56.85
08/01/2019	59.60
09/01/2019	60.50
10/01/2019	57.20
11/01/2019	59.55
14/01/2019	57.85
15/01/2019	58.05
16/01/2019	60.10
17/01/2019	61.85
18/01/2019	62.40
21/01/2019	59.10
22/01/2019	59.10
23/01/2019	60.20
24/01/2019	57.85
25/01/2019	55.35
28/01/2019	55.00
29/01/2019	54.53
30/01/2019	55.90
31/01/2019	53.35
01/02/2019	52.45
04/02/2019	50.35
05/02/2019	51.30
06/02/2019	50.50
07/02/2019	50.70
08/02/2019	49.40
11/02/2019	47.60
12/02/2019	47.80
13/02/2019	47.20
14/02/2019	48.20
15/02/2019	46.90
18/02/2019	47.30
19/02/2019	45.45
20/02/2019	45.45
21/02/2019	46.00
22/02/2019	44.80
25/02/2019	44.10
26/02/2019	44.55
27/02/2019	44.85
28/02/2019	45.20
01/03/2019	44.55
04/03/2019	43.70
05/03/2019	43.95
06/03/2019	43.20
07/03/2019	42.85
08/03/2019	43.10
11/03/2019	42.70
12/03/2019	41.60
13/03/2019	40.25
14/03/2019	39.40
15/03/2019	39.60
18/03/2019	38.00
19/03/2019	38.35
20/03/2019	37.05
21/03/2019	37.50
22/03/2019	37.10
25/03/2019	36.50
26/03/2019	36.30
27/03/2019	37.05
28/03/2019	37.30
29/03/2019	35.85
01/04/2019	35.10
02/04/2019	33.10
03/04/2019	31.60
04/04/2019	33.50
05/04/2019	38.35
08/04/2019	39.50
09/04/2019	42.60
10/04/2019	45.00
11/04/2019	39.10
12/04/2019	39.60
15/04/2019	37.85
16/04/2019	36.50
17/04/2019	35.10
18/04/2019	35.10
23/04/2019	28.85
24/04/2019	31.10
25/04/2019	32.35
26/04/2019	34.10
29/04/2019	33.10
30/04/2019	34.40
01/05/2019	33.10
02/05/2019	34.35
03/05/2019	34.50
07/05/2019	34.25
08/05/2019	33.20
09/05/2019	37.30
10/05/2019	38.35
13/05/2019	33.05
14/05/2019	32.00
15/05/2019	32.10
16/05/2019	32.10
17/05/2019	30.60
20/05/2019	31.85
21/05/2019	30.10
22/05/2019	30.70
23/05/2019	29.00
24/05/2019	30.60
28/05/2019	30.60
29/05/2019	30.00
30/05/2019	28.50
31/05/2019	28.10
03/06/2019	25.60
04/06/2019	27.30
05/06/2019	29.10
06/06/2019	27.85
07/06/2019	28.95
10/06/2019	29.85
11/06/2019	30.65
12/06/2019	28.70
13/06/2019	30.10
14/06/2019	28.85
17/06/2019	29.50
18/06/2019	31.30
19/06/2019	28.85
20/06/2019	28.50
21/06/2019	26.35
24/06/2019	28.30
25/06/2019	26.60
26/06/2019	25.25
27/06/2019	25.60
28/06/2019	23.75
01/07/2019	25.60
02/07/2019	28.60
03/07/2019	27.60
04/07/2019	27.50
05/07/2019	27.85
08/07/2019	30.60
09/07/2019	33.10
10/07/2019	31.40
11/07/2019	35.85
12/07/2019	34.95
15/07/2019	38.50
16/07/2019	34.40
17/07/2019	30.83
18/07/2019	30.30
19/07/2019	30.05
22/07/2019	29.80
23/07/2019	27.80
24/07/2019	28.80
25/07/2019	27.95
26/07/2019	27.80
29/07/2019	27.60
30/07/2019	27.30
31/07/2019	29.35
01/08/2019	31.10
02/08/2019	31.50
05/08/2019	30.60
06/08/2019	27.60
07/08/2019	27.30
08/08/2019	25.95
09/08/2019	28.60
12/08/2019	30.95
13/08/2019	30.80
14/08/2019	28.80
15/08/2019	27.10
16/08/2019	27.20
19/08/2019	27.10
20/08/2019	28.10
21/08/2019	29.10
22/08/2019	29.10
23/08/2019	29.60
27/08/2019	28.60
28/08/2019	28.30
29/08/2019	27.30
30/08/2019	28.00
02/09/2019	24.10
03/09/2019	19.60
04/09/2019	20.10
05/09/2019	19.30
06/09/2019	23.10
09/09/2019	28.10
10/09/2019	26.10
11/09/2019	28.35
12/09/2019	28.35
13/09/2019	30.80
16/09/0219	31.93
17/09/2019	30.60
18/09/2019	26.60
19/09/2019	26.85
20/09/2019	23.90
23/09/2019	25.85
24/09/2019	26.60
25/09/2019	25.60
26/09/2019	25.60
30/09/2019	25.90
01/10/2019	25.50
02/10/2019	26.60
03/10/2019	29.60
04/10/2019	34.10
07/10/2019	24.60
08/10/2019	26.75
09/10/2019	24.50
10/10/2019	21.60
11/10/2019	25.10
14/10/2019	27.60
15/10/2019	30.45
16/10/2019	28.30
17/10/2019	26.50
18/10/2019	29.25
21/10/2019	26.85
22/10/2019	25.10
23/10/2019	27.10
24/10/2019	26.30
25/10/2019	30.90
28/10/2019	28.85
29/10/2019	26.10
30/10/2019	25.10
31/10/2019	21.85
01/11/2019	29.10
04/11/2019	30.50
05/11/2019	35.60
06/11/2019	34.90
07/11/2019	36.60
08/11/2019	39.10
11/11/2019	39.30
12/11/2019	38.35
13/11/2019	39.10
14/11/2019	38.85
15/11/2019	38.60
18/11/2019	39.10
19/11/2019	38.50
20/11/2019	39.10
21/11/2019	40.35
22/11/2019	41.95
25/11/2019	42.35
26/11/2019	42.00
27/11/2019	42.10
28/11/2019	42.10
29/11/2019	42.60
02/12/2019	40.00
03/12/2019	38.55
04/12/2019	34.10
05/12/2019	33.80
06/12/2019	30.85
10/12/2019	33.10
11/12/2019	33.10
12/12/2019	31.20
13/12/2019	33.00
16/12/2019	32.75
17/12/2019	33.50
18/12/2019	32.10
19/12/2019	32.35
20/12/2019	33.10
23/12/2019	31.20
24/12/2019	27.10
02/01/2020	28.60
03/01/2020	29.10
06/01/2020	29.80
07/01/2020	28.60
08/01/2020	28.35
09/01/2020	28.50
10/01/2020	29.35
13/01/2020	30.35
14/01/2020	30.25
15/01/2020	28.60
16/01/2020	29.80
17/01/2020	29.60
20/01/2020	28.00
21/01/2020	28.30
22/01/2020	27.55
23/01/2020	27.10
24/01/2020	27.45
27/01/2020	27.95
28/01/2020	28.10
29/01/2020	27.30
30/01/2020	25.80
31/01/2020	24.55
03/02/2020	25.60
04/02/2020	25.00
05/02/2020	25.50
06/02/2020	23.35
07/02/2020	22.95
10/02/2020	22.30
11/02/2020	22.30
12/02/2020	21.50
13/02/2020	20.00
14/02/2020	20.70
17/02/2020	21.60
18/02/2020	24.00
19/02/2020	23.93
20/02/2020	24.85
21/02/2020	22.85
24/02/2020	24.60
25/02/2020	24.10
26/02/2020	24.20
27/02/2020	25.10
28/02/2020	25.10
02/03/2020	25.70
03/03/2020	25.00
04/03/2020	25.10
05/03/2020	25.10
06/03/2020	24.85
09/03/2020	22.98
10/03/2020	23.20
11/03/2020	24.50
12/03/2020	24.50
13/03/2020	25.40
16/03/2020	25.50
17/03/2020	24.00
18/03/2020	23.85
19/03/2020	24.75
20/03/2020	24.10
23/03/2020	22.60
24/03/2020	22.35
25/03/2020	22.10
26/03/2020	21.80
27/03/2020	19.35
30/03/2020	20.05
31/03/2020	18.55
01/04/2020	16.95
02/04/2020	18.60
03/04/2020	16.10
06/04/2020	16.45
07/04/2020	16.80
08/04/2020	16.60
09/04/2020	16.30
14/04/2020	16.35
15/04/2020	14.90
16/04/2020	14.60
17/04/2020	14.10
20/04/2020	12.55
21/04/2020	9.85
22/04/2020	10.35
23/04/2020	14.00
24/04/2020	11.50
27/04/2020	12.70
28/04/2020	13.05
29/04/2020	14.45
30/04/2020	13.53
01/05/2020	13.55
04/05/2020	14.05
05/05/2020	14.30
06/05/2020	14.10
07/05/2020	14.60
11/05/2020	14.00
12/05/2020	13.60
13/05/2020	12.80
14/05/2020	13.08
15/05/2020	12.85
18/05/2020	13.05
19/05/2020	11.60
20/05/2020	11.30
21/05/2020	9.80
22/05/2020	9.00
26/05/2020	11.50
27/05/2020	9.35
28/05/2020	9.30
29/05/2020	9.10
01/06/2020	8.30
02/06/2020	9.55
03/06/2020	11.50
04/06/2020	11.50
05/06/2020	12.80
08/06/2020	13.50
09/06/2020	12.70
10/06/2020	11.20
11/06/2020	11.10
12/06/2020	13.10
15/06/2020	14.85
16/06/2020	14.80
17/06/2020	13.80
18/06/2020	14.10
19/06/2020	14.30
22/06/2020	13.90
23/06/2020	14.38
24/06/2020	15.00
25/06/2020	14.60
26/06/2020	13.50
29/06/2020	14.20
30/06/2020	16.60
01/07/2020	16.35
02/07/2020	15.30
03/07/2020	14.30
06/07/2020	14.70
07/07/2020	15.40
08/07/2020	15.55
09/07/2020	14.60
10/07/2020	13.75
13/07/2020	13.58
14/07/2020	13.00
15/07/2020	14.05
16/07/2020	12.80
17/07/2020	13.60
20/07/2020	13.00
21/07/2020	13.30
22/07/2020	13.15
23/07/2020	13.30
24/07/2020	13.55
27/07/2020	13.10
28/07/2020	13.10
29/07/2020	13.30
30/07/2020	13.10
31/07/2020	13.90
03/08/2020	15.10
04/08/2020	17.00
05/08/2020	16.80
06/08/2020	17.08
07/08/2020	19.58
08/08/2020	21.35
11/08/2020	20.25
12/08/2020	19.50
13/08/2020	19.10
14/08/2020	18.60
17/08/2020	21.10
18/08/2020	21.10
19/08/2020	22.85
20/08/2020	21.00
21/08/2020	20.10
24/08/2020	21.05
25/08/2020	22.40
26/08/2020	24.50
27/08/2020	24.90
28/08/2020	27.00
01/09/2020	29.00
02/09/2020	28.15
03/09/2020	28.00
04/09/2020	30.35
07/09/2020	29.50
08/09/2020	29.10
09/09/2020	28.50
10/09/2020	28.05
11/09/2020	27.75
14/09/2020	27.60
15/09/2020	28.75
16/09/2020	30.00
17/09/2020	30.45
18/09/2020	29.50
21/09/2020	31.00
22/09/2020	30.10
23/09/2020	32.60
24/09/2020	32.00
25/09/2020	31.53
28/09/2020	33.80
29/09/2020	35.00
30/09/2020	33.85
01/10/2020	33.00
02/10/2020	32.60
05/10/2020	36.80
06/10/2020	35.90
07/10/2020	36.75
08/10/2020	37.75
09/10/2020	38.50
12/10/2020	37.20
13/10/2020	38.35
14/10/2020	38.50
15/10/2020	39.70
16/10/2020	39.95
19/10/2020	40.85
20/10/2020	40.00
21/10/2020	40.85
22/10/2020	40.60
23/10/2020	42.60
26/10/2020	41.30
27/10/2020	40.35
28/10/2020	40.90
29/10/2020	39.35
30/10/2020	37.85
02/11/2020	32.75
03/11/2020	37.00
04/11/2020	37.35
05/11/2020	39.10
06/11/2020	38.00
09/11/2020	38.60
10/11/2020	37.10
11/11/2020	36.60
12/11/2020	37.50
13/11/2020	37.20
16/11/2020	38.25
17/11/2020	37.00
18/11/2020	36.88
19/11/2020	36.70
20/11/2020	34.75
23/11/2020	36.00
24/11/2020	37.10
25/11/2020	40.10
26/11/2020	39.35
27/11/2020	41.70
30/11/2020	42.60
01/12/2020	43.85
02/12/2020	42.50
03/12/2020	42.10
04/12/2020	42.73
07/12/2020	41.10
08/12/2020	41.23
09/12/2020	41.25
10/12/2020	42.40
11/12/2020	42.80
14/12/2020	45.00
15/12/2020	47.35
16/12/2020	45.25
17/12/2020	44.35
18/12/2020	43.85
21/12/2020	45.85
22/12/2020	49.43
23/12/2020	49.50
04/01/2021	61.75
05/01/2021	57.10
06/01/2021	55.98
07/01/2021	57.60
08/01/2021	62.85
11/01/2021	64.35
12/01/2021	73.10
13/01/2021	72.10
14/01/2021	67.10
15/01/2021	63.58
18/01/2021	58.00
19/01/2021	56.00
20/01/2021	59.00
21/01/2021	57.00
22/01/2021	61.00
25/01/2021	62.10
26/01/2021	56.85
27/01/2021	52.25
28/01/2021	56.10
29/01/2021	59.10
01/02/2021	50.60
02/02/2021	50.30
03/02/2021	48.35
04/02/2021	49.60
05/02/2021	53.60
08/02/2021	57.93
09/02/2021	55.40
10/02/2021	53.75
11/02/2021	49.75
12/02/2021	46.60
15/02/2021	43.75
16/02/2021	42.50
17/02/2021	43.85
18/02/2021	43.00
19/02/2021	44.05
22/02/2021	40.80
23/02/2021	40.60
24/02/2021	40.45
25/02/2021	41.45
26/02/2021	41.35
01/03/2021	42.90
02/03/2021	43.70
03/03/2021	43.75
04/03/2021	44.75
05/03/2021	44.70
08/03/2021	45.35
09/03/2021	43.50
10/03/2021	44.90
11/03/2021	45.65
12/03/2021	47.10
15/03/2021	46.85
16/03/2021	44.20
17/03/2021	43.50
18/03/2021	46.60
19/03/2021	43.85
22/03/2021	43.50
23/03/2021	44.10
24/03/2021	46.90
25/03/2021	46.30
26/03/2021	46.60
29/03/2021	45.85
30/03/2021	46.35
31/03/2021	48.85
01/04/2021	50.85
06/04/2021	51.85
07/04/2021	52.60
08/04/2021	53.35
09/04/2021	53.60
12/04/2021	55.40
13/04/2021	55.50
14/04/2021	55.90
15/04/2021	55.60
16/04/2021	56.90
19/04/2021	57.10
20/04/2021	56.10
21/04/2021	56.35
22/04/2021	56.60
23/04/2021	55.60
26/04/2021	55.60
27/04/2021	55.30
28/04/2021	59.60
29/04/2021	59.00
30/04/2021	61.35
04/05/2021	66.00
05/05/2021	65.50
06/05/2021	66.75
07/05/2021	62.00
10/05/2021	64.60
11/05/2021	64.80
12/05/2021	67.10
13/05/2021	66.60
14/05/2021	69.80
17/05/2021	67.85
18/05/2021	67.10
19/05/2021	62.85
20/05/2021	60.05
21/05/2021	66.10
24/05/2021	64.00
25/05/2021	65.10
26/05/2021	69.90
27/05/2021	66.50
28/05/2021	62.00
01/06/2021	63.60
02/06/2021	64.10
03/06/2021	64.20
04/06/2021	62.60
07/06/2021	63.60
08/06/2021	68.00
09/06/2021	69.10
10/06/2021	68.83
11/06/2021	69.58
14/06/2021	71.25
15/06/2021	70.75
16/06/2021	68.60
17/06/2021	68.75
18/06/2021	71.48
21/06/2021	75.85
22/06/2021	77.10
23/06/2021	79.08
24/06/2021	80.60
25/06/2021	81.48
28/06/2021	82.10
29/06/2021	81.50
30/06/2021	85.10
01/07/2021	92.55
02/07/2021	89.88
05/07/2021	92.85
06/07/2021	92.10
07/07/2021	85.50
08/07/2021	80.40
09/07/2021	91.10
12/07/2021	89.53
13/07/2021	84.60
14/07/2021	85.00
15/07/2021	84.50
16/07/2021	87.70
19/07/2021	91.60
20/07/2021	88.60
21/07/2021	90.00
22/07/2021	91.10
23/07/2021	90.30
26/07/2021	91.65
27/07/2021	96.00
28/07/2021	98.50
29/07/2021	102.90
30/07/2021	106.10
02/08/2021	108.10
03/08/2021	107.58
04/08/2021	105.60
05/08/2021	104.00
06/08/2021	109.50
09/08/2021	107.60
10/08/2021	111.00
11/08/2021	110.85
12/08/2021	110.85
13/08/2021	112.10
16/08/2021	114.00
17/08/2021	115.25
18/08/2021	117.25
19/08/2021	109.00
20/08/2021	104.00
23/08/2021	108.10
24/08/2021	108.60
25/08/2021	114.60
26/08/2021	112.60
27/08/2021	117.05
31/08/2021	123.00
01/09/2021	132.75
02/09/2021	127.00
03/09/2021	132.00
06/09/2021	135.50
07/09/2021	131.50
08/09/2021	135.60
09/09/2021	138.00
10/09/2021	138.50
13/09/2021	151.00
14/09/2021	169.00
15/09/2021	196.10
16/09/2021	175.10
17/09/2021	166.35
20/09/2021	175.00
21/09/2021	187.00
22/09/2021	177.10
23/09/2021	168.00
24/09/2021	166.00
27/09/2021	180.05
28/09/2021	178.10
29/09/2021	181.10
30/09/2021	205.10
01/10/2021	240.10
04/10/2021	210.00
05/10/2021	250.00
06/10/2021	350.00
07/10/2021	219.00
08/10/2021	240.00
11/10/2021	210.10
12/10/2021	212.10
13/10/2021	218.10
14/10/2021	245.10
15/10/2021	231.10
18/10/2021	214.00
19/10/2021	209.00
20/10/2021	216.25
21/10/2021	214.00
22/10/2021	212.00
25/10/2021	214.00
26/10/2021	212.60
27/10/2021	205.25
28/10/2021	187.10
29/10/2021	180.08
01/11/2021	178.00
02/11/2021	159.00
03/11/2021	179.00
04/11/2021	192.00
05/11/2021	188.00
08/11/2021	185.55
09/11/2021	185.10
10/11/2021	162.10
11/11/2021	167.50
12/11/2021	183.10
15/11/2021	192.00
16/11/2021	205.75
17/11/2021	245.10
18/11/2021	216.10
19/11/2021	227.60
22/11/2021	219.00
23/11/2021	227.00
24/11/2021	231.00
25/11/2021	232.88
26/11/2021	228.50
29/11/2021	240.10
30/11/2021	253.30
01/12/2021	238.10
02/12/2021	234.10
03/12/2021	232.10
06/12/2021	225.18
07/12/2021	240.50
08/12/2021	258.50
09/12/2021	252.00
10/12/2021	254.00
13/12/2021	285.10
14/12/2021	303.43
15/12/2021	314.80
16/12/2021	329.10
17/12/2021	337.10
20/12/2021	370.10
21/12/2021	405.00
22/12/2021	440.00
23/12/2021	364.98
24/12/2021	256.00
04/01/2022	208.00
05/01/2022	229.00
06/01/2022	234.00
07/01/2022	230.00
10/01/2022	208.10
11/01/2022	200.35
12/01/2022	197.10
13/01/2022	179.60
14/01/2022	221.60
17/01/2022	203.00
18/01/2022	189.00
19/01/2022	182.00
20/01/2022	172.00
21/01/2022	180.00
24/01/2022	204.05
25/01/2022	231.35
26/01/2022	214.10
27/01/2022	220.10
28/01/2022	220.10
31/01/2022	206.00
01/02/2022	180.00
02/02/2022	179.00
03/02/2022	180.00
04/02/2022	190.00
07/02/2022	183.10
08/02/2022	195.10
09/02/2022	182.10
10/02/2022	184.10
11/02/2022	174.10
14/02/2022	196.10
15/02/2022	181.73
16/02/2022	159.00
17/02/2022	175.00
18/02/2022	172.00
21/02/2022	167.10
22/02/2022	181.10
23/02/2022	200.00
24/02/2022	200.00
25/02/2022	261.10
28/02/2022	265.00
01/03/2022	256.00
02/03/2022	291.50
03/03/2022	410.00
04/03/2022	427.00
07/03/2022	620.00
08/03/2022	470.10
09/03/2022	425.10
10/03/2022	356.10
11/03/2022	280.10
14/03/2022	280.00
15/03/2022	295.10
16/03/2022	265.00
17/03/2022	240.00
18/03/2022	245.00
21/03/2022	235.00
22/03/2022	217.90
23/03/2022	239.00
24/03/2022	270.00
25/03/2022	260.00
28/03/2022	243.00
29/03/2022	273.10
30/03/2022	300.00
31/03/2022	302.00
01/04/2022	300.00
04/04/2022	254.10
05/04/2022	226.10
06/04/2022	235.10
07/04/2022	235.10
08/04/2022	241.10
11/04/2022	218.00
12/04/2022	206.10
13/04/2022	200.10
14/04/2022	179.00
19/04/2022	165.10
20/04/2022	167.10
21/04/2022	148.10
22/04/2022	165.10
25/04/2022	141.00
26/04/2022	142.00
27/04/2022	155.00
28/04/2022	127.00
29/04/2022	135.00
03/05/2022	140.10
04/05/2022	167.10
05/05/2022	166.10
06/05/2022	157.80
09/05/2022	129.99
10/05/2022	131.86
11/05/2022	149.56
12/05/2022	162.90
13/05/2022	154.25
16/05/2022	167.59
17/05/2022	192.10
18/05/2022	196.00
19/05/2022	183.35
20/05/2022	158.78
23/05/2022	139.80
24/05/2022	145.19
25/05/2022	138.60
26/05/2022	140.60
27/05/2022	138.10
30/05/2022	165.96
31/05/2022	169.00
01/06/2022	174.35
06/06/2022	159.95
07/06/2022	128.10
08/06/2022	128.07
09/06/2022	171.95
10/06/2022	151.50
13/06/2022	162.50
14/06/2022	156.50
15/06/2022	205.86
16/06/2022	254.98
17/06/2022	160.00
20/06/2022	190.10
21/06/2022	179.10
22/06/2022	199.10
23/06/2022	186.10
24/06/2022	175.10
27/06/2022	151.00
28/06/2022	154.00
29/06/2022	170.00
30/06/2022	167.99
01/07/2022	166.00
04/07/2022	215.10
05/07/2022	265.10
06/07/2022	172.50
07/07/2022	220.10
08/07/2022	225.10
11/07/2022	208.10
12/07/2022	254.00
13/07/2022	300.00
14/07/2022	260.00
15/07/2022	202.00
18/07/2022	180.10
19/07/2022	183.10
20/07/2022	227.10
21/07/2022	285.10
22/07/2022	280.10
25/07/2022	270.00
26/07/2022	320.00
27/07/2022	365.00
28/07/2022	340.00
29/07/2022	315.00
01/08/2022	285.10
02/08/2022	260.00
03/08/2022	288.00
04/08/2022	320.00
05/08/2022	330.00
08/08/2022	298.00
09/08/2022	286.00
10/08/2022	280.00
11/08/2022	329.00
12/08/2022	350.00
15/08/2022	370.00
16/08/2022	383.90
17/08/2022	400.00
18/08/2022	380.00
Date

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Market News

Published	News
04/01/2022	The market has bounced back this morning after the Christmas period saw heavy losses off the back of milder weather and increasing numbers of LNG deliveries. DA has lifted significantly as the UK enters a tight period of demand with temperatures dropping 3 degrees below seasonal normal for a short spell. The system is balanced at 0.7mcm short with total demand at 319mcm, 21mcm above seasonal normal. On supply, LNG send out is at 99mcm with 15 cargos looking likely to berth at UK terminals before the 18th of January. The BBL is importing 15mcm with Norwegian imports also flowing at capacity along the Langeled pipeline. On demand, LDZ is up at 210mcm with temperatures dropping. CCGT demand is relatively low at 34mcm with good wind generation today. Brent has climbed to $79.60/bbl overnight as hopes for further a demand recovery in 2022 dominate the market.
05/01/2022	Prices have continued to climb today, following the trend set yesterday with tightening Russian flows, driving prices upwards. Flows along the Mallnow pipeline have been nominating at 0mcm since late December. Velke flows have also dropped by 60% since the turn of the year and so as a result, total Russian flows to Europe are down 45% year on year today. European storage is 56% full, 15% lower year and year and so the lack of supply from Russia is putting increased pressure and storage, that is already significantly depleted, causing prices to lift. The UK system is 10mcm short today following an increase in weather driven demand. Despite strong Norwegian flows and LNG send out, supply is struggling to keep up with the increased heating demand. Wind generation has also dropped and so there is an increased reliance on gas for power generation. Yesterday, OPEC agreed to extend the 400,000 barrel-a-day production increase into February. This level of increase has come to be expected by the market as it has remained static throughout the Winter months. The market is taking support from improving demand outlooks. Due to a lower number of hospitalisations, it is becoming clearer that Omicron will not impact demand as strongly as first feared
06/01/2022	Prices have opened higher on the NBP this morning as bullish fundamentals continue to drive the market. Russian flows haven’t improved day on day with a significant drop in nominations at Velke this week. Oil has also lifted to $81.77/bbl overnight, supporting the back end of the NBP curve. The system is 9mcm long with total demand at 322mcm, 7mcm above seasonal normal. The recent influx of LNG is keeping the UK well supplied with LNG send out at 106mcm today. 14 cargos are due to arrive by January 21st. UKCS nominations have improved day on day following the end to an outage at Oseberg. On demand, below seasonal normal temperatures have lifted domestic heating demand to 242mcm. CCGT demand is nominating at 42mcm, a similar level in comparison to yesterday.
07/01/2022	Prices have opened lower on the front of the NBP curve this morning following news that the Dutch government is to double production at the Groningen gas field in order to boost supply in this gas year. The news comes despite previous plans to phase out Groningen due to seismic activity in the area. The back of the curve remains supported with oil lifting overnight on pipeline maintenance in Libya and unrest in Kazakhstan, due to government price hikes in fuels, which could threaten oil production in the region. The system is 5mcm long with total demand 323mcm, 12mcm above seasonal normal. Despite ships being unable to dock at South Hook yesterday due to bad weather, LNG send out remains strong at 92mcm. Demand is up on the colder weather, with temperatures now set to increase as we move through January. A significantly colder weather run overnight is adding concern to the market but there is weak confidence in this forecast transpiring at present
10/01/2022	Russian gas flows remain supressed as easternly flows out of Germany towards Poland persist along with other key transit routes seeing little change. The U.S. and Moscow are scheduled to resume talks this week regarding Ukrainian border tensions. UK gas prices are down across the curve as LNG cargoes remain in steady supply and UK storage remains at capacity. 9 Cargoes have arrived this January, with another 16 expected for the remained. Should this arrival rate continue, the UK could be in for a near record month. Feb22 is down 5p at 210p/th, Mar22 is down 9p at 204p/th.
11/01/2022	UK Gas prices have opened lower today with near term contracts posting losses in comparison to Monday’s close. An oversupplied system, reduced forecast demand and abundance of LNG arriving into the UK helped push front month Feb-22 below 200p/therm for the first time since 12th November 2021. Total forecast demand fell by 20mcm today, as the UK turns more mild and has strong renewable output. This has helped to keep the system balanced and looking ahead to a strong LNG schedule the front month and near term contracts have fallen. An unplanned outage at Skarv field removed volume yesterday and is back on helping the supply picture even more. The UK LNG schedule is strong as mentioned, with 13 cargoes set to arrive before the end of January helping to bring a significant volume to help balance grids or offer flexibility during the remaining winter months to stop the reliance on storage withdrawals.
12/01/2022	UK gas prices opened slightly higher on Wednesday with higher demand and cooler temperatures supporting initial trading, however, during the early session prices pushed below the Tuesday closing price. Total UK demand is above seasonal norm today as weak wind generation and cooler temperatures combine to push demand to 334mcm, 14mcm above average. Overnight weather runs turned down bringing colder temperatures for the back end of this week and the start of next. The UK system is 7mcm short, looking to storage withdrawals to help balance despite healthy LNG supply. CCGT demand has climbed to 70mcm on the back of weaker wind generation with total UK demand rising by 26mcm day on day. The UK is on track to receive a further 6 LNG cargoes by the end of this week amid a flurry of LNG cargoes that are headed to Europe. LNG arrivals help provide flexibility to balance grids or will help to fill storage facilities to prolong the stock levels throughout winter
13/01/2022	UK gas prices opened lower on Thursday despite a slightly higher demand day on day and an undersupplied system. The abundance of LNG and the anticipated arrival of more cargoes heading towards Britain has weighed on the front of the curve. Total UK demand is at 339mcm today, up 5mcm to Wednesday, with the system holding a 9mcm short. Wind generation remains low and temperatures cooler than average and expected to remain this way until next week. Weather forecasts are largely mixed with models showing ~2°C ranges for temperatures for Week 3 due to a pressure system making it difficult to predict. The market has shrugged off this uncertainty with a greater supply picture and has pushed those front term contracts lower. Further out along the curve, prices came under pressure from cheaper Carbon EUA and UKA prices which has helped keep Sum-23/ Win-23 contracts below 100p/therm
14/01/2022	UK gas prices have opened higher and pushed upwards this morning during trading. The UK gas market soared on Thursday afternoon with Feb-22 contract pushing back above 200p/therm. An unplanned outage at Troll field restricted around 28mcm of Norwegian flows, bringing more risk back into the market. Even with an increased LNG schedule, colder temperatures and increased demand is still bullish for markets with 2 months left of winter. Total UK demand climbed today, to reach the highest value of the week at 349mcm, 35mcm above seasonal average. Total demand has lifted on colder temperatures and a 5GW reduction in wind generation in comparison to Thursday. The UK market was withdrawing gas from storage facilities at a rate of 23.7mcm. The far curve also found some support on Thursday with Oil prices and Carbon markets lifting helping to bring some bullish momentum to the far curve. Temperatures are expected to be below average to start next week but are then expected to pick up which should remove some LDZ demand, however wind forecasts remain low.
17/01/2022	Prices have opened lower on the NBP this morning as LNG continues to flood into the UK. We could see as many as 15 cargos due by early February with January set to receive as many as 30 cargos in total. LNG is boosting supply, causing prices on the front to fall. There are some bullish drivers present this morning, with Norwegian outages at Troll, Sleipner and Skarv, restricting capacity. Wider commodities are also showing strength, with Brent at $86.15/bbl on weakening demand fears and tightening supply. The system is 7mcm long at time of writing with total demand at 325mcm, 5mcm above seasonal normal. On demand, gas for power generation is nominating at 66mcm with low wind generation. Temperatures are hovering around seasonal normal with LDZ demand at 325mcm. Supply is meeting demand well, with LNG send out strong at 108mcm.
18/01/2022	Prices have opened higher on the NBP this morning, going against the bearish trend we have seen in recent days off the back of LNG. The system is 28mcm short with total demand at 341mcm, 20mcm higher than seasonal normal. Temperatures have dropped to 3 degrees below seasonal normal today, which has increased domestic heating demand and put extra strain on supply. Norwegian supply into the UK is also being restricted by an unplanned outage at Kollsnes, taking 77mcm of capacity offline. This comes on top of another unplanned outage at Troll, taking 26mcm of capacity offline. Oil remains supported on tensions in the Middle East after drone strikes on the UAE occurred overnight.
19/01/2022	UK gas prices have opened lower this morning on the back of weaker demand, improved supply and a milder weather outlook. Total UK forecast is expected to reach 312mcm today, roughly 20mcm lower day on day and 10mcm below seasonal average. Milder temperatures and increased wind generation have helped contribute. The UK weather forecasts have turned warmer for the end of January, helping to dampen demand as we approach Feb-22 and the long range forecast has also posted temperatures around 1.5°C - 2°C above average for the whole of February. Coupled with a mild weather outlook, LNG deliveries continue to arrive into the UK with 9 expected before month end, helping to keep LNG supply into grid healthy. Even with the recent Norwegian outages the UK system remained fairly comfortable with this form of supply. The Norwegian outages that restricted 33% of total Norwegian volumes last week and over the weekend have largely been resolved and the UK has seen flows into Easington from Langeled double day on day. In other commodities, Oil prices hit a 7 year high following a Drone attack at facilities in the UAE which could disrupt some supplies.
20/01/2022	UK gas prices moved lower to start Thursday’s trading sessions despite a stronger demand. Total UK demand increased by 46mcm today on the back of colder temperatures and low wind generation. Demand was set to reach 358mcm today, 30mcm above seasonal norms and the highest demand of the winter so far. Even with increased demand, the recent influx of LNG cargoes has kept the system comfortable, also boosted by stronger Norwegian flows. The issues encountered in Norway last week on a number of facilities have largely been resolved and this is reflected in the increased volumes the UK is seeing into Easington. Volumes were as low as 30mcm on Monday, and have since risen to 60mcm yesterday, back up to 69mcm today. LNG cargoes continue to deliver into the UK with a further 8 vessels expected to unload before month end and overnight temperature forecasts have posted upwards moving the back end of January more mild.
21/01/2022	Prices have opened higher on the NBP as carbon prices continue to drive the market upwards, despite strong LNG send out. The system is also under increased pressure with gas for power demand nominating at 72mcm off the back of a drop in wind generation. However, supply has come back with recent outages at Troll and Skarv coming to end today, boosting Norwegian imports. In total, the system is 11mcm long at time of writing, with demand at 353mcm, 38mcm above seasonal normal. Temperature forecasts continue to show the UK warming up as we move into February. Temperatures will be below seasonal normal until next week, where there will be a gradual rise to 3 degrees above seasonal normal by the end of the month. On oil, Brent has also fallen overnight with an unexpected build in US inventories driving prices lower despite the ongoing geopolitical tensions.
24/01/2022	UK gas prices have opened higher this morning, with front month contracts pushing up by around 10p/therm. The Feb-22 contract lifted back above 200p/therm and has traded higher throughout the morning session. Increased demand with colder weather and weak wind generation has helped contribute to the strength at the near curve. Forecast temperatures until Wednesday will remain below average, before picking up into the weekend. Wind generation will fall from around 5GW to around 1GW during today. CCGT demand is strong at 71mcm and total demand is 28mcm above seasonal norms. Models have consolidated over the weekend with a consensus forming that a westerly setup will persist during the month bringing mild and windy conditions. There will be some cold calm days, but they should be shortlived. The UK is set to receive another 11 LNG cargoes by mid-February and January is set to beat a previous monthly record. The German regulator provided a very short update on NS2, claiming that there is no progress on the new entity being set up that will manage the operation of the pipeline and fears that this could be delayed return
25/01/2022	UK gas prices soared upwards on Monday’s trading despite generally bearish fundamentals present in the market. Tensions on the Russia/ Ukraine border have led to concerns about European supply. Total demand increased once more on the back of weak wind output and cold temperatures, pushing demand to 349mcm, up 4mcm day on day. The figure is 33mcm above seasonal norm. Despite this, temperatures are set to pick up and turn mild with increased wind generation expected in the coming days. The UK is set to have a record month for LNG with number of arrivals in one month and supply remains comfortable. The market opened relatively flat on Monday, but during the morning sessions tensions across the Russia/ Ukraine border peaked amid US and Nato sending forces to deescalate. The energy markets across Europe have reacted sharply to this with fears there may be a curtailment to some supplies. For now, the incentive for LNG to keep arriving into Europe is keeping grids balanced and stopping the prices from climbing back to the record highs seen just before Christmas.
26/01/2022	UK gas prices opened down on Wednesday with more comfortable system dynamics and a drop in expected demand for the coming period pressured prices. Total UK demand has fallen by 40mcm on milder temperatures and stronger wind generation. The demand is below seasonal average for the first time in a week as the prompt is assisted by increased renewables. The CCGT demand has dropped by 20mcm day on day with increased wind expected to continue into the weekend. Temperatures are set to climb through the latter part of the week and the UK is expected to see temperatures remain well above average until mid February. On Tuesday, UKAs soared by £2/tonne to push over £80/tonne which ensured that far curve held on to some of it’s recent gains whilst the near curve posted some small losses. In the power market, balancing costs were upwards of £40M due to the low winds with the peak hours requiring action to balance. The record high balancing costs remains ~£60M in November 2021.
27/01/2022	UK gas prices have opened flat compared to Wednesday’s close with lower demand and mild temperatures being offset against a cooler forecast for some cooler spells in February. Total demand for the UK has fallen back below 300mcm for the first time in 2022 (30th December @ 254mcm) being assisted by stronger wind generation and those mild temperatures. Demand for CCGT has dropped by around 5mcm day on day and the LDZ heating demand has fallen by 22mcm. Weather models have pushed several days in February downwards overnight, leading to a slight cooling for days between 3rd and 8th February which could lift demand slightly, however the picture for February still shows mild with average temperatures likely to deliver above the seasonal norm. It was announced yesterday that a subsidiary company ‘Gas for Europe’ has been established to own and operate the Nord Stream 2 pipeline in German territorial waters. In order to start pumping gas commercially, the company will still require a certification and green light from the German regulator. The US has also weighed in stating that Nord Stream 2 will not happen if there is an invasion into Ukraine
28/01/2022	UK gas prices have opened slightly higher this morning despite a drop in total demand. The UK system has opened short even with reduced CCGT and heating consumption with mild temperatures. UK demand is at 279mcm today, 30mcm below seasonal, but issues at Norwegian facilities taking ~30mcm offline have reduced Langeled flows by 15mcm and LNG regassification has dropped day on day. There was a bullish move in EUA and carbon prices on Thursday which pulled the curve upwards with spot EUAs climbing close to breaching €90t/CO2e. The increased carbon prices tend to increase expected gas consumption as a cheaper alternative to dirtier fuels. Temperatures for the UK have moved down towards the cooler side with the back end of next week dropping back below seasonal norms. This will lift gas demand and has helped support the front month contract this morning as cold temperatures arrive at the start of February. These will be short lived. Europe has received a boost with the LNG cargoes set to continue to arrive during Q1-22 with a host of cargoes scheduled for February and March-22 already
31/01/2022	Prices have opened lower on the NBP this morning, driven by warmer weather and an increase in Russian flows. Temperature forecasts have increased significantly over the weekend, with next week now set to be as much as 6 degrees above seasonal normal. The UK will warm from today onwards before a brief drop back down to seasonal normal temperatures at the weekend. Domestic heating demand will drop away off the back of the increasing temperatures. Russian flows have increased 4mcm day on day, with flows along the Velke pipeline picking up by 5mcm, a much welcome boost to a tight supply picture in Europe. LNG also continues to drive prices downwards with 14 cargos expected to hit the UK in the first 2 weeks of February. This comes after a record month of deliveries in January.
01/02/2022	Prices have continued fall on the NBP into Tuesday. A significant increase in Russian flows, warmer weather and good wind generation are all driving prices downwards. The system has flipped to 14mcm long overnight, with total demand at 274mcm, 41mcm below seasonal normal. On supply, Norwegian flows have increased with outages at Troll and Karsto ending over the weekend. Langeled and UKCS are nominating at 74mcm and 57mcm respectively. LNG send out has also increased day on day to 82mcm, with 12 cargos heading towards the UK so far this month. Russian flows are up 30mcm day on day with nominations along the Velke pipeline increasing from 47mcm to 77mcm, boosting supply into Europe.
02/02/2022	NBP prices have opened higher this morning on decreasing Russian flows. Yesterday, the nominations along the Velke pipeline lifted from 47mcm to 77mcm, bringing a muchneeded boost to supply to Europe. However today, the nominations have dropped back down to 61mcm which has driven a recovery in prices. Warmer weather continues to have a bearish impact on the front of the curve with temperatures and wind generation set to lift from today, reducing demand. OPEC are also planned to meet today where they will agree on a level of production for the month of March. The consensus in the market is that OPEC will agree to yet another 400,000 barrels per day, following the trend set all winter.
03/02/2022	Prices have continued to lift on the NBP this morning, following the trend set yesterday. Carbon prices have reached the €94/tonne mark on increased demand with the compliance period approaching and technical trading, adding further bullish pressure to UK gas prices. Velke flows have also dropped further overnight, with nominations decreasing by 30% since the start of the month, tightening supply into Europe. The system is 14mcm long at time of writing, with total demand set at 285mcm, 30mcm below seasonal normal. Temperatures are 5 degrees above seasonal normal today, with domestic heating demand down at 187mcm as a result. Oil prices have moved lower overnight despite OPEC’s decision yesterday to stick to the 400,000 barrel per day level of production set in previous months.
04/02/2022	Prices have continued to climb during this morning’s session on the NBP. Prices are being driven by colder weather coming into the forecasts and further reductions of Russian flows into Europe. Temperatures are set to drop back down to seasonal normal in the Uk over the weekend with demand increasing as a result. Temperatures in week 6 have also moved colder, with a period of temperatures 2-3 degrees below seasonal normal now forecast between the 11th and 14th of February. Velke nominations have dropped back down to levels seen at the end of January with total flows down 10mcm, day on day. The system is balanced at 1mcm short at time of writing with domestic heating demand increasing as temperatures cool. Fortunately, wind generation has lifted with gas for power demand falling as a result, mitigating the increases in LDZ demand.
07/02/2022	UK gas prices opened slightly lower to start the week, with front months, and front two seasons posting losses of around 10p/therm. The UK system opened balanced with no nett long or short position as milder weather and strong wind generation helped to suppress demand. The UK forecast is set at 290mcm today, 25mcm lower than seasonal norm. UK temperatures continue to hold 2/3°C above average. Velke flows from Russia have climbed back up to 80mcm after spending a few days below this level helping to boost overall supply to Western Europe, however Skarv field has gone offline restricted some Norwegian flows, with Langeled flows falling from 75mcm to 66.3mcm for the UK. LNG remains strong and the UK is expected to receive another 5 cargoes before the 13th February as cargoes continue to target European markets. Oil prices has continued to climb and posted strong gains to end last week, pushing past the $90/bbl mark for the first time since 2014. Strong US employment figures helped to cement the belief that Omicron variant is less likely to cause demand destruction whilst business and industry continues to grow, whilst OPEC+ countries continue to struggle to meet the planned increase
08/02/2022	UK gas prices have opened slightly higher today, with front months and seasons posting gains of around 8/9p/therm, whilst the far curve posts more muted gains. Overall, the fundamentals surrounding the near curve remain generally bearish, with mild temperatures and strong wind generation persisting with the abundance of LNG continuing to arrive. Overnight, Russian volumes have fallen by 12mcm restricting flows to North West Europe slightly alongside an unplanned outage at Skarv Field taking around 12mcm offline. Total UK demand remains suppressed due to the warmer temperatures, hitting 272mcm, 44mcm below seasonal average but the long system and comfortable demand is only offsetting further gains in the market today. Carbon prices continue to soar, pushing closer to €100/tonne taking another step upwards settling at €97.52 on Monday, bringing support to the far curve. Oil prices have pulled back from 7 year highs, settling below $94/bbl with reports suggesting that the US could be willing to remove sanctions from Iran following the Nuclear standoff, which would release Iranian oil supplies to market
09/02/2022	On Tuesday EDF revised their Nuclear availability down for 2022, due to maintenance work to correct safety issues within several facilities, leading to a significant increase across gas and power curves. Overall forecasts for Nuclear generation have been decreased by ~20TWh for 2022 leading to a shorter power supply and likely increased gas demand as an alternative fuel. These gains were later wiped off as the market fell into the close. UK gas prices have opened with a mixed bag this morning with front months posting small gains in comparison to Tuesday’s close, whilst the far curve opened lower pressured by losses in the wider energy complex. Total UK demand remains well below seasonal norms amid mild and windy weather conditions, with UK consumption expected to reach 278mcm, 35mcm below seasonal norms. Oil prices have fallen further as traders looked to sell off and profit take, waiting for confirmation that the US have removed further sanctions from Iran. Carbon prices also moved down in the afternoon session, helping to drag far curve contracts lower.
10/02/2022	UK gas prices opened slightly higher this morning, but during early trading prices moved lower and are below closing levels on Wednesday. The UK system is comfortable today, holding 8.3mcm in length, with total demand 11mcm higher day on day at 289mcm. Despite the increase, total consumption remains well below seasonal norms as mild weather continues to weaken heating demand. Temperatures and wind outlook remain bearish for the UK market with very mild days possible next week and in the coming few weeks based on the current setup helping to keep demand reduced. Temperatures are turning colder tomorrow and into the weekend before picking back up for the next working week. Carbon prices posted significant losses on Wednesday, moving away from the €100/tonne mark as policy makers looking to reform the carbon market is planning to propose major changes to the EU ETS mechanism with the aim to prevent price spikes.
11/02/2022	This morning the UK gas system is set to be 9mscm long with LNG send out expected at 94mscm. UK weather is forecasted in line with seasonal normal levels, then continuing above seasonal normal for the entirety of next week. UK wind is expected to increase steeply from lows of 2-3 GW to end the day at a peak of 12GW. Outages at both Oseberg and Gullfaks field in Norway are at reduced capacity. High UK spot prices have seen LNG favour UK markets over Asia from mid Jan to the beginning of February. slight increases in JKM prices have seen the spread favour Asia by $1/BTU.
14/02/2022	Along with other commodities, UK gas prices have opened higher across the curve off the back of heightening geopolitical tensions in Eastern Europe, despite bearish fundamentals. This follows on from the gains we saw late last week, driven by the EDF announcement that Nuclear output would be reduced by 12% in France for the year 2023. The UK system is 18mcm at time of writing, with total demand at 275mcm, 38mcm below seasonal normal. Demand is down on strong winds and above seasonal normal temperatures, which are expected to last throughout February based on the latest forecasts. 3 LNG cargos are expected to berth at UK shores today, lifting February’s total to 14
15/02/2022	Prices have opened lower on the NBP this morning, being driven by calming geopolitical tensions in Eastern Europe. Bearish fundamentals also remain with mild temperatures and strong wind generation driving down demand. The UK system is 8mcm long at time of writing, with total demand at 272mcm, 40mcm below seasonal normal. There is ample supply meeting demand with LNG send out and Norwegian imports being the main source of supply today, with nominations at 64mcm and 68mcm respectively. Russian flows into Europe along the Velke pipeline have increased by 7mcm day on day, adding further bearish pressure to prices.
16/02/2022	Prices have opened lower on the NBP this morning but have since lifted. The UK gas front month contract opened at 159p/th and is currently trading around 167p/th. The market has trended downwards over recent days due to easing tensions in Easter Europe. Bearish fundamentals are also adding downwards pressure, with total demand down a massive 78mcm below seasonal normal today because of strong wind generation and warmer weather. Russian flows along the Velke pipeline have dropped by 18mcm today which will be adding to the bullishness in prices seen this morning. Wider commodities also remain supported with tightness in supply in the oil market and increased demand in the carbon markets because of compliance buying.
17/02/2022	Prices have lifted on the NBP this morning off the back of mounting tensions between Ukraine and Russia. Despite the bearish fundamentals of warmer weather and good wind generation, the front month contract has opened at 172p/th and has since gone on to lift to 176p/th at time of writing. The UK system is 5mcm long with total demand at 252mcm, 58mcm below seasonal normal. On supply, LNG send out is nominating at 45mcm, with 7 cargos expected to arrive in the UK by the 20th of February. Langeled is flowing at capacity, with UKCS nominating at 50mcm. Demand is significantly below seasonal normal because of a drop in domestic heating and gas for power demand, which are nominating at 190mcm and 24mcm, respectively.
18/02/2022	Prices have opened lower on the NBP this morning, driven by a drop in wider commodities and bearish fundamentals continuing to drive the market downwards. Carbon EUA’s have fallen following a reduction in demand, after some of next year’s credits were released into the market. Oil is also down on hopes that the US sanction on Iran could be lifted if Iran comply with the terms set in a nuclear deal. Compliance could see Iranian oil production increase, bringing a much-needed boost in supply to the market. The UK system is 8mcm long a time of writing, with demand lifting day on day due to an increase in domestic heating, brought about because of dropping temperatures as we move towards the weekend. Total demand is at 273mcm, 31mcm below seasonal normal. On supply, LNG send out is nominating at 57mcm, with 8 cargos expected by month end. Norwegian flows into the UK are at capacity with the issues at Oseberg yesterday having been resolved.
21/02/2022	UK gas prices opened slightly lower this morning with most near-term contracts posting 5p/therm losses in comparison to Friday’s close. During early trading however, prices have slowly ticked up and have moved to the level seen when markets closed last week. The UK demand is well below seasonal normal and temperatures remain mild. The strong winds have significantly reduced the CCGT demand to just 27mcm. Early gains the market come as the UK system turns short. Initially opening around 5mcm long, the system has now flipped to 6mcm short with demand increasing. A chimney at Grain CCGT plant succumbed to Storm Eunice and collapsed which has closed the plant today. A reactor at Hinkley Nuclear plant also tripped and was taken offline on Friday which is not expected to return online until the weekend. It was a bullish day on Friday for carbon emission prices with both EUA and UKAs gaining significantly value, with the UKA’s posting gains of around £3/tonne
22/02/2022	UK gas prices opened slightly higher day on day with front months and the two front seasons posting gains of around 6p/therm. During early trading, thanks to a long system and weak demand prices fell back to levels witnessed on Monday. Around 10:30 it was announced that Germany have halted the Nord Stream 2 certification process for the pipeline and markets reacted bullishly with prices climbing. At time of writing front month Mar-22 is close to reaching 200p/therm and Sum-22 following suit. The UK demand remains comfortable today, holding 24mcm in length with a total forecast that is 50mcm below seasonal average. Total demand is 5mcm lower than expected at this time of year. Temperatures remain mild but are set to briefly drop below average for the weekend before climbing once more. Far curve contracts climbed on Monday following a surge in the wider commodities with Coal, Carbon and Oil prices all posting gains. Oil prices lifted to seven year highs priced at 95$/bbl with the potential Russia/Ukraine issuing tightening global supply.
23/02/2022	UK gas prices opened higher this morning with all near term contracts and front seasons finding support amid the ongoing tensions in Russia/ Ukraine. Prices climbed on Tuesday afternoon following confirmation of a number of sanctions across the EU and US, most notably the German government halting the certification process of Nord Stream 2 which seemed to have most impact on gas markets as prices climbed 4/5p/therm around that time. Prices did eventually move lower in the afternoon sessions before settling higher in the close. The UK demand remains subdued and well below seasonal with mild temperatures and strong wind generation help contribute to an oversupplied system. The UK is 20mcm long this morning with total demand 43mcm below seasonal average. Oil prices pushed up towards $100 on Tuesday, reaching $99.50 briefly before retracing back, currently trading at $96.50 as the market weights up potential supply issues with the political issue between Russia/ Ukraine.
24/02/2022	UK gas prices have soared this morning with near term prices pushing back up towards 300p/therm. The uncertainty surrounding the situation in the Ukraine continues to drive markets with a number of energy contracts and commodities posting gains during early trading. Oil prices pushed through $100/bbl briefly and European gas contracts posted gains. Total UK demand has lifted day on day, increasing to 275mcm on the back of colder temperatures whilst the UK system remains long. The UK weather forecast has turned overnight with temperatures falling at the start of March bringing an increased likelihood of stronger gas demand
25/02/2022	UK gas prices have opened lower this morning with front month Mar-22 trading around 60p/therm lower than Thursday’s closing prices. Total UK demand has increased slightly day on day with colder temperatures increasing the heating demand in comparison to Thursday. Despite the increase to 279mcm, UK demand is still below seasonal average. Oil prices breach $105/bbl briefly yesterday, before falling into the close and Carbon prices also posted significant losses on Thursday with spot EUAs trading below €88/tonne after threatening €100 earlier this month. Uncertainty continues to surround markets following the ongoing situation in Ukraine with extreme volatility as witnessed yesterday set to continue.
28/02/2022	The NBP has opened significantly higher this morning, driven by the ongoing conflict in Ukraine. The UK system is 28mcm long, with total demand at 273mcm, 24mcm below seasonal normal. Demand is set to pick up this week with wind generation and temperatures forecasted to move below seasonal normal. On supply, LNG and Norwegian imports remain the main source of UK supply this morning, nominating at 81mcm and 74mcm, respectively. This month, the UK is on track to receive 20 cargos, 1 more than Feb-21. Volatility remains in the oil markets with Brent currently around the $98/bbl mark.
01/03/2022	Prices have opened higher on the NBP this morning, taking direction from the geopolitical events in Eastern Europe. The front month contract, Apr-22, is up around 40p/th against yesterdays close. Gains in wider commodities are also adding bullish pressure to gas prices, with Brent surpassing the $100/bbl mark overnight. The UK system is 14mcm short today, with total demand at 308mcm, 14mcm above seasonal normal. Demand is increasing as temperatures move colder and wind generation remains below seasonal normal for the time of year. LNG flows have fallen by 13mcm day on day, with storage withdrawals picking up some of the deficit, nominating at 23mcm.
02/03/2022	Prices on the NBP have continued to climb significantly with high levels volatility at open this morning. Gains in wider commodities and the ongoing conflict in Eastern Europe continue to drive prices higher. Brent has surpassed the $110/bbl mark at time of writing, with coal also lifting to multi year highs. Carbon has dropped to multi week lows, with the benchmark Dec-22 EUA contract dropping below the €57/tonne mark. The UK system is balanced with supply meeting demand. Total demand sits at 290mcm, 3mcm below seasonal normal, following increases in nominations of LDZ and gas for power demand. These increases have been driven by below seasonal normal wind and temperatures. On supply, UKCS nominations and storage withdrawals have ramped up to meet the extra demand and counteract a drop in LNG send out.
03/03/2022	Prices continue to climb on the NBP after the first week of conflict between Russia and Ukraine. Gains in wider commodities are also supporting gas prices, with Brent currently trading at $114.70/bbl and record gains in the coal markets to. The UK system is 5.7mcm short at time of writing, with total demand at 288mcm, 5mcm below seasonal normal. Below seasonal normal temperatures and wind generation continue to drive demand upwards. The supply picture remains relatively unchanged day on day, with LNG send out at 63mcm, with 9 vessels expected to arrive in the UK by the 15th of March.
04/03/2022	NBP prices have climbed to unprecedented highs with front month trading above the 429p/th mark. Escalations in the conflict in Ukraine has driven prices higher after a fire broke out at Europe’s largest nuclear plant. Oil prices have moved down from 14-year highs, with confidence building in an agreement being reached on the Iranian nuclear deal, which could see Iran’s oil production boosted through the removal of sanctions. The UK system is 9mcm long, a change in direction on yesterday’s short. Total demand is at 286mcm, in line with seasonal normal. Domestic heating demand is set to increase as temperatures move lower into the weekend. Gas for power demand is nominating at 56mcm, with wind speeds down 4m/s below seaonal normal today. Supply is meeting demand well with small increases in LNG send out and storage withdrawals.
07/03/2022	UK gas prices have soared to all time highs upon early trading after the weekend with front month prices reaching and trading at 800p/therm. UK gas prices opened significantly higher this morning with all curve contracts posting significant gains and the European benchmark TTF contract trading at around €350/MWh. Total UK demand has lifted today due to colder temperatures with demand climbing above 300mcm and 15mcm above seasonal norm. Temperatures are to remain below average until Wednesday, before South Westerly flows will bring warmer air into the region with possible 20°C days in the South of the UK. The UK is withdrawing around 30mcm from storage sites this morning to help balance the system, whilst Norwegian and UK continental shelf production remains at capacity. Oil prices surged up during early trading in Asian markets, reaching $139/bbl, it’s highest price since July 2008 as the US talks up a potential Russian Oil ban which has supported all commodity markets.
08/03/2022	UK energy prices closed at their all-time highest assessment on Monday after prices soared on early trading following the weekend. The Apr-22 front month contract closed at around 539p/therm, nearly 100p/therm higher than the highest price back in 21/22 December 2021. Gas prices opened strongly this morning despite a reduction in demand, with total consumption expected to fall by 35mcm day on day. UK demand is set at 267mcm, 19mcm below average as temperatures begin to change and turn mild for the weekend. Carbon prices have fallen dramatically in the past 2 weeks, with EUAs moving from ~€96/tonne only a month ago, closing at €57/tonne on Monday. An anticipation of lower demand due to rapidly increasing energy costs cited as one reason, whilst investors also look at raising liquidity for more expensive gas and electricity, achieved by selling positions in the EU ETS.
09/03/2022	Prices shed value at the open falling near 12% or 60p as concerns seemed to ease but quickly rebounding as the market battles conflicting supply signs from Russia. The EU commission's lack of interest of sanctioning oil and gas imports eased fears slightly following the U.S and UK opted to ramp up measures to ban Russian fossil fuel imports. The global boycotting of Russian fossil fuels could exacerbate Global supply tightness and spur Asia to replenish its LNG storage earlier than expected and at higher volumes, potentially causing the current NBP Vs JKM spread to thin in coming months
10/03/2022	UK gas prices have opened largely flat in comparison to Wednesday but have moved lower during the early trading session. Total UK demand has fallen again day on day to its lowest value of the week as stronger wind generation and warmer temperatures reduce consumption. Forecast consumption is expected to reach 230mcm, 50mcm below seasonal average and the UK system is 15mcm long with supply outweighing demand. The European commission has said that the Europe has sufficient amounts of gas in storage for the remainder of winter but will replenish reserves through the summer and will propose by 1st October that 90% of storage capacity is full. Carbon prices found some support on Wednesday after consecutive days of significant losses with spot EUAs climbing from €57.92 on Tuesday to €72.78 this morning.
11/03/2022	UK gas prices opened at weekly lows on Friday after curve prices traded down on Thursday’s session. Mild temperatures, stronger wind generation and stable European flows helped pressure contracts bringing them to a weekly low. On Friday morning, despite prices opening lower, the early movement has been bullish with Apr22 contract lifting from 277p/therm to trade at 328p/therm despite weakened demand. Total UK demand is at 230mcm today, 45mcm below seasonal norm with temperatures remaining well above average for today. Wind generation has increased by around 3.5GW today to reach 14GW helping to keep consumption lower. Oil prices posted strong losses overnight after US inflation report was released with a figure of 7.6% proving to be the highest inflation rate since 1980s. This has caused concern in the market and increased a likelihood of a demand destruction whilst energy prices continue to trade at record highs
14/03/2022	The NBP has opened lower this morning despite bullish fundamentals. Front month closed at 316.50p/th on Friday, with the same contract now trading at 285.00p/th. The UK system is 4mcm short at time of writing, with total demand at 270mcm, 7mcm below seasonal normal. Poor wind generation is driving demand despite warmer weather. Fields delivering into SEGAL are restricted by 5mcm due to corrective maintenance. LNG send out is at 64mcm, with 9 cargos expected to UK shores by the end of March. Russian flows to Europe have fallen 15mcm day on day, with nominations along Mallnow dropping from 27 to 13mcm.
15/03/2022	The NBP has lifted throughout the morning, with the benchmark front month contract now 24p/th higher than yesterdays close. Russian flows have dropped 28mcm day on day, with nominations at Mallnow decreasing day on day. An outage a Dragon LNG terminal is also driving prices upwards and tightening supply in to the UK, with LNG flows down at 54mcm. Despite this, the UK system is 8mcm long at time of writing, with total demand at 257mcm, 19mcm below seasonal normal. Demand is muted due to warmer weather with temperatures set to hold above seasonal normal for the rest of the week
16/03/2022	Prices have opened higher on the NBP this morning as Russian gas exports to Europe continue to tighten, with Velke pipeline nominations dropping 8mcm day on day. Supply is also being restricted by planned Norwegian maintenance events, with demand set to increase on a drop in wind generation in the coming days. The UK system is 5mcm long at time of writing, with total demand at 267mcm, 9mcm below seasonal normal. LNG send out has increased day on day, with 3 cargos set to deliver at UK terminals today. Milder temperatures are resulting in below seasonal normal heating demand, despite an increase in gas for power demand.
17/03/2022	NBP prices have opened higher this morning after yesterdays losses. Gains in wider commodities and a drop in nominations along the NEL pipeline has drove gas prices higher this morning. Brent as risen back above the $100/bbl mark overnight after the IEA announced their latest forecast on supply. The UK system remains long today at 8mcm, with total demand at 258mcm, 18mcm below seasonal normal. Following yesterdays LNG deliveries, send out has increased to 82mcm. However, Norwegian imports have decreased with planned maintenance events taking capacity offline. Improving wind forecasts have seen demand forecasts revised lower in the coming days as above seasonal normal temperatures continue in the UK.
18/03/2022	Prices have opened higher again today off the back of gains in wider commodities and tighter supplies coming into the UK from Norway due to maintenance. The carbon market has lifted on increased compliance buying. Oil has also lifted overnight with Brent currently around $108/bbl, roughly $10/bbl higher than where we were on Wednesday. These gains a supporting the NBP curve. Despite the Norwegian maintenance, the UK system remains long today, by 11mcm. Total demand sits at 250mcm, 20mcm below seasonal normal. LNG send has increased, making up for the drop in flows along Langeled. 13 cargos are expected to deliver to UK terminals by the end of March.
21/03/2022	UK gas prices have opened slightly lower this morning as temperature forecasts remain mild bringing a reduction in demand for the coming days. UK temperatures are set to rise with the possibility of widespread 20°C days across parts of the UK which will lead to a significantly reduced demand picture for this time of year. In contrast, demand is at seasonal normal today (270mcm) as overnight temperatures dropped slightly below freezing leading to a stronger LDZ demand. Wind generation will remain poor for the coming week as high pressure bringing warm weather will bring more still and calm conditions. Total CCGT has risen to 55mcm today, helping to bring a higher demand level in comparison to last week. Oil prices have soared this morning reaching back in $112/bbl territory as the IEA announced that there needed to be a weakening of demand to ensure there is no supply concerns with the ongoing energy crisis.
22/03/2022	UK gas prices opened slightly lower on the open this morning as demand reduces with the warmer temperatues.Total UK demand has fallen by 7mcm as temperatures warm up. The heating figure is expected to fall futher as we progress through the week with the forecast showing temperatures could be up 7c above seasonal average. In contrast the UK is set to experience a poor outturn for wind generation which could keep consumption higher than expected with the warmer period. The UK iswell balanced in general with 9 LNG cargoes set to arrive before 30th March bringing a boost to near term supply. Despite comfortable system dynamics recently, the UK opened slightly short this morning with total demand outweighing supply as Langeled imports dropped by 8mcm day on day and flows from Dragon reduced in anticipation of the next LNG arrival.
23/03/2022	Calm conditions combined with a cut in Norwegian supply boosted natural gas prices at the NBP on Tuesday. The biggest gains in the session were posted on the prompt and near-curve with the front-month contract gaining circa 12p/therm (0.4p/kWh) when compared to its previous close. The gains were largely driven by an unplanned outage at the Troll field, offshore operator Gassco showed 25mcm/day was offline throughout the session due to a compressor failure. The unplanned event has continued into today, however the cut in capacity has reduced to 16mcm. A drop in wind generation also added to the bullish sentiment on the day, data from National Grid showed wind farms were averaging at just 3.4GW, bolstering gas-for-power demand. Contracts further out on the curve also rose likely on the back of rising carbon futures. According to ICE data, the front-month December-22 contract gained circa 3% day-on-day.
24/03/2022	Natural gas prices at the NBP surged on Wednesday, amid low wind output and a prolonged Norwegian unplanned outage. Information from offshore operator Gassco showed Tuesday’s unplanned outage at the Troll field, which was cutting capacity by 25mcm/day due to a compressor failure was extended into Wednesday, although the cut in capacity was reduced to 16mcm/day. A fall in wind generation also contributed to the upwards momentum, data from National Grid showed wind turbines were averaging at just 1.4GW throughout the session, bolstering gas-fired generation. Mid-afternoon prices were sent soaring even further, after Russian President Vladimir Putin suggested that gas deliveries to Europe would need to be paid in Russian currency (Roubles). The bull run has continued this morning with all key contracts posting sizeable gains of around 10p/therm, at time of writing
25/03/2022	Prices jumped yesterday afternoon as market's digested Putin's demands for gas to be paid in Roubles from "unfriendly" nations, with the bullish sentiment continuing this morning with a ~5% increase. Biden is headed to Brussels today to discuss whether to impose further sanctions on Russia. Thus stoking fears that energy could be component of such sanctions.
28/03/2022	Natural gas prices continued to tumble at the NBP on Friday, following Thursday’s crash in prices. Gas prices continued to correct down from a mid-week spike when Russian President Vladimir Putin announced gas sold to "unfriendly nations" would need to be paid in Russian currency (Roubles). A busy LNG schedule also added to the bearish sentiment, according to Milford Haven port data one laden vessel berthed on British shores over the weekend with another two scheduled to arrive within the next 7 days. The end result was a drop of 19p/therm (0.65p/kWh) to the Summer-22 contract when compared to its previous close, contracts further out also posted losses driven by the sentiment from the prompt, although the losses were much smaller. Gas prices have opened largely in line with Fridays close this morning, prices are however ticking up at time of writing.
29/03/2022	Cool, calm conditions and uncertainty surrounding Russian supply to Europe boosted natural gas prices at the NBP on Monday. Gas prices were sent higher midday after reports that the Group of Seven (G7) countries rejected Russia’s demand to pay for natural gas deliveries in Roubles, German Economic Minister Robert Habeck said “all G-7 ministers agreed completely that this (would be) a one-sided and clear breach of the existing contracts”. A drop in temperatures forecast for the remainder of this week also added to bullishness at the front-end, with significant gains posted across the prompt and near-curve, with the latter gaining circa 17p/therm (0.58p/kWh) when compared to its previous close
30/03/2022	Prices have strengthened on the NBP this morning, driven by bullish fundamentals. A looming cold spell and below seasonal normal wind generation is driving up demand and lifting prices on the front of the curve. Temperatures are set to drop around 4 degrees below seasonal normal in the UK and across Europe, with the cold weather expected to last until next week. The system is 7mcm long at time of writing despite demand strengthening. Total demand is at 273mcm, 14mcm above seasonal normal. Supply is meeting demand well with LNG send out nominating in the 90’s. Withdrawals from storage are also taking place today, nominating at 13mcm. Brent has lost some value overnight and is currently trading at $110.15/bbl. Prices have fallen as increasing coronavirus cases in China continue to drive demand fears. OPEC are also set to meet tomorrow, where it is expected that there will be no change to the current level of production of 400,000 barrels per day
31/03/2022	The UK Day-Ahead contract up this morning as UK gas demand is 30 mcm/d higher day-on-day and the system is slightly short. Brent Crude is back below $110/bbl as the Biden administration is expected to announce a plan to release a million barrels of oil a day from U.S. reserves for a few months to fight increasing gasoline prices. The US is also pushing other oil producing countries to do the same. Oil prices were higher yesterday on the back of scepticism about Russia's intention to reduce combat operations in two key arteas of Ukrain following talks between Russia and Ukraine in Turkey.
01/04/2022	The NBP remains supported on bullish fundamentals, with demand significantly higher than seasonal normal today. The now front month, May-22 contract, opened higher but has since dropped to yesterday’s level at close of 295 p/th. Total demand is at 344mcm, 107mcm above seasonal normal. The UK is experiencing temperatures around 5 degrees below seasonal normal, with the cold expected to last until early next week. Wind generation is also low, increasing the reliance on gas for power generation. Supply is up to meet the extra demand, however, the system is 8mcm short at time of writing. LNG send out has lifted significantly, nominating at 125mcm, with the UK set to receive 12 cargos by the 16th of April.
04/04/2022	UK gas prices have opened slightly higher this morning as UK demand is extremely strong. UK gas prices have posted gains of around 8p/therm across near term contracts with strong consumption driving prices. Total UK forecast is 279mcm for today, 40mcm above seasonal norms as the cold weather lifts demand for today. The demand is below Friday’s level, helped by stronger wind generation but LDZ consumption remains high. Despite the large demand level, the UK system is well balanced, holding 26mcm in length with strong LNG flows (126mcm) helping contribute to supply. The UK is expected to remain cool until midweek, turning slightly colder into the weekend before higher pressure builds and brings a more calm period with warmer weather from mid April. It is expected strong storage injections could be possibly mid April. Oil prices opened lower this morning, falling by over 13% as Biden announced the largest Oil reserve release in US history, withdrawing 1million barrels a day of Oil into markets
05/04/2022	UK gas prices have opened largely in line with Monday’s close, with little price action to start the day. Total UK demand has increased day on day, climbing by 4mcm, although the UK system remains long and well supplied. The cooler temperatures continue to push up total consumption in the UK with LDZ demand making up 150mcm worth of demand. High LNG flows (118mcm) and strong wind generation (CCGT @ 32mcm) is helping to keep the system well balanced whilst storage injection demand has lifted to increase demand. Temperatures are set to turn milder as we move past the weekend with April set to outturn above the seasonal normal range. Oil prices have lifted this morning as Saudi’s Aramco have lifted May prices above $9/bbl, $4.40/bbl higher than last month which was a previous record. Oil prices are extremely volatile with this move coming only a day after the US announced a record stock release in the commodity
06/04/2022	UK gas prices opened slightly lower in comparison to yesterday’s close, but within early trading and before 9am prices pushed higher. At time of writing the front month contract is around 4p/therm higher than on Tuesday afternoon. The UK prompt market found support on Tuesday following an unplanned outage at a Norwegian facility, taking 5mcm offline. This coincided with colder temperatures and a higher demand for the UK. Total demand remains above seasonal norm today, reaching 281.4mcm, 41mcm above average. The UK system opened short this morning helping to support near term prices on early trading. Temperatures are set to remain cooler than average until the weekend before things turn more mild. The UK will see seasonal normal temperatures next week, before a stronger warming from 20th April is more likely. Oil prices tumbled on Tuesday fuelled by new lockdown measures imposed in China which could curb demand, however prices have traded upwards on the back of this today as prices recover back up to $106/bbl.
07/04/2022	UK gas prices have opened largely in line with closing prices on Wednesday, with any movement favouring the downside. There has been a small reduction in front month price which has pushed below 240p/therm. Total UK demand has once again exceeded the seasonal average with the figure reaching 283mcm today (up 2mcm). The expected range currently is 237mcm, but the cold temperatures have significantly increased consumption in recent days. Temperatures are set to turn warmer over the weekend, but this will coincide with a reduction in wind generation. LND sendout remains strong in the UK, with total flows at 111.6mcm today, with this form of supply helping to keep the UK comfortable at present. Despite the strong demand the system is once again long this morning. On Tuesday the European parliament voted to fast track the introduction of the minimum 80% gas in storage for the winter heating season. A second vote is scheduled for today.
08/04/2022	UK gas prices have opened slightly higher today as demand pushes past 300mcm as colder temperatures grip the UK. Front month contracts have lifted by around 10p/therm compared to Thursday’s close and most far curve contracts have posted some gains with increases in carbon prices. The UK demand is set at 311mcm today as temperatures remain 3-4°C below seasonal average. Wind generation has been strong in recent days, but a downturn in output has lifted CCGT demand by around 25mcm today. Despite the significantly increased demand level, the UK system remains comfortable and is long as storage withdrawals help balance the grid. Temperatures are set to remain below average until after the weekend, before moving warmer and we should see demand fall as we progress through the week. There is still risk for a colder spell of weather to return towards the back of April in the long term forecast models. Oil prices briefly pushed below $100/bbl on Thursday after 240million barrels were released from emergency stockpiles globally which will help relieve supply constraints for the immediate term. The UK government announced that it would increase Nuclear capacity to improve generation by 2050. It was also announced that the UK would be increasing offshore wind capacity to improve strategic supplies
11/04/2022	UK gas prices have opened roughly in line with Fridays close, with the front month May-22 contract currently at 222.50p/th at time of writing, only 0.5p/th higher than Friday’s close price. Bearish fundamentals have been driving prices recently with milder weather set to come in this week, as well as a good number of LNG cargos continuing to head towards the UK. The UK system is 8mcm long, with total demand at 260mcm, 30mcm above seasonal normal. LNG send out is nominating at 87mcm, with as many as 12 cargos expected by late April. Langeled flows are down at 60mcm, with ongoing maintenance events continuing to curtail imports. An unplanned outage at Kvitebjorn is taking 9mcm of capacity offline. Oil prices have moved lower over the weekend, although Brent is still holding just above the $100/bbl mark. Bearish pressure in the oil markets is coming from increasing coronavirus cases in China and the expected increase in supply off the back of the US and IEA releasing oil from respective strategic reserves.
12/04/2022	The market has opened higher today, despite the bearish market fundamentals of warmer weather and high LNG volumes. Nominations along the Velke pipeline have dropped by roughly 25% day on day, driving gains across the NBP curve. The system has also shortened versus yesterday with low wind increasing the reliance on gas for power generation. Wider commodities are also up overnight with both the coal and oil markets facing tightness in supply due to ongoing sanctions. On weather, temperatures are due to pick up as we move into the weekend, with the UK set to be around 4 degrees above seasonal normal until the middle of next week.
13/04/2022	NBP storage flows have flipped from withdrawals to injections this session, which has offset a day-on-day rise in LNG send-out to leave the system undersupplied. Negative sentiment from global equities may exert downward pressure on Carbon this morning, although liquidity still appears to be thin in the run up to Easter. Russia's statement that peace talks with Ukraine have led nowhere has sent a positive signal to Brent, as this is increasing the risk of further moves away from Russian oil supply. Crude hasn't moved too far from its settlement though, as poor Japanese economic data has cast doubts over demand in the region.
14/04/2022	Prices have softened on the NBP curve at open this morning as bearish fundamentals continue to add downwards pressure. The UK system is 11mcm long at time of writing, with total demand at 287mcm, 74mcm above seasonal normal. Temperatures are roughly 3 degrees above seasonal normal today, with the warmer weather expected to last until early next week. LNG cargos continue to arrive into the UK with 11 expected by the end of the month, 5 of which are scheduled to arrive today. The Norwegian outage at Kvitebjorn, taking 9mcm of capacity offline, has been extended until the 16th. Velke pipeline nominations have also increased 15mcm day on day. After nominations dropped 25% om Tuesday
19/04/2022	UK gas prices opened largely flat in comparison to Thursday’s close. UK demand remains extremely high for the time of year as industry comes back online following the 4-day weekend and wind generation has dropped off leading to a 66mcm demand from CCGT. Temperatures are set to remain above seasonal norm for the upcoming week which will help to keep demand reduced, with supply remaining strong with a number of LNG arrivals into the UK before month end. Norwegian maintenance begins tomorrow at Troll field and Kollsnes processing plant, taking around 50mcm offline until the end of April. This is on top of the restricted capacity from Aasta Hansteen which tripped late last week unexpectedly. Oil prices climbed significantly on Monday, adding $5/bbl to the Brent Crude prices as Libya announced it was unable to delivery oil from its largest production site due to political protest and unrest.
20/04/2022	UK gas prices opened relatively flat this morning but within early trading, pushed up slightly. Total UK demand is well above seasonal norm but despite this the system remains comfortable. Total UK consumption is expected to reach 266mcm today, 60mcm above seasonal average lifted by weak wind generation. CCGT demand is up at 57mcm and the UK continues to export through the IUK at a rate of 59mcm. LNG continues to help balance the UK grid with flows of 109mcm with 10 cargoes set to arrive before the end of April. Today marks the unofficial start of Norwegian maintenance with Troll field and Kollsnes offline, with Langeled flows dropping to 42mcm from 76mcm in the UK. In total, around 50mcm will be offline for 2 weeks. Oil prices remain volatile, losing 5% in price as the IMF released their latest report forecasting weaker economic growth and in turn weaker oil demand.
21/04/2022	UK gas prices fell into the close to end the day flat to where they opened, despite some intraday volatility causing some significant price movement. The market traded up by around 20p/therm as Norwegian maintenance at Troll and Kollsnes were brought forward a day earlier than planned which restricted Langeled flows to the UK. Prices are in line with Wednesday’s level with the UK system once again comfortable despite an increased demand. Total consumption is expected to reach 250mcm, 43mcm above seasonal average with significant exports to the continent remaining through the IUK. Wind generation has improved slightly today, reducing the gas for power generation by 10mcm and the UK system is well supplied, holding 20mcm in length. Carbon and Coal prices soared upwards in the afternoon session with spot EUA’s lifting by around €7/tonne and UKAs climbing £5/tonne due to excessive buying demand ahead of the compliance deadline which is approaching in a number of days, whilst support on an ETS market reform was granted raising prices further.
22/04/2022	UK gas prices pushed up slightly this morning on the back of restricted Norwegian volumes due to ongoing maintenance. Planned maintenance at Kollsnes facility was started on Wednesday but on Thursday, an unplanned outage impacted the facility taking 60mcm offline. The UK is seeing only 10mcm of Langeled flows this morning. Total UK demand remains above seasonal norms, but total consumption forecast has fallen today as wind generation increases. The UK is set to receive around 10GW of wind generation which is reducing the CCGT by around 15mcm compared to Thursday. Temperatures are set to fall over the weekend, dropping 1-3°C below seasonal for the start of next week but the set up is difficult to predict and there is some optimism that temperatures could increase. Carbon prices experienced a sell off on Thursday after a significant increase on Wednesday, with prices falling back.
25/04/2022	Prices have opened higher than Fridays close following a drop in wind generation and cooler temperatures. The UK system is 6mcm long at time of writing, with total demand at 272mcm, 58mcm above seasonal normal. Wind generation is expected to drop away this week, increasing the reliance on gas for power generation. Temperatures are also forecasted to drop around 1 or 2 degrees below seasonal normal, again impacting gas demand to the upside. An ongoing outage at Kollsness is also taking 2mcm capacity offline. Despite pricing lifting, Russian exports to Europe have increased 11mcm day on day following a rise in nominations along the Velke pipeline. Oil has also dropped over the weekend on demand fears, with coronavirus cases increasing in China.
26/04/2022	Bearish fundamentals and losses in wider commodities continue to pressure the NBP downwards this morning. Improving weather forecasts and healthy LNG flows are driving prices lower. Wider commodities are also softening on demand fears as further lockdown are being implemented in China, to curb the spread of the coronavirus. Both European coal and carbon benchmark contract fell over 5% yesterday as a result. The UK system is 7mcm long, with total demand at 276mcm, 62mcm above seasonal normal. LNG send out remain the main source of UK supply, nominating at 105mcm. Langeled is nominating at 48mcm with an unplanned outage at Kollsness ongoing. Gas for power demand is strong today, at 73mcm, due to low wind generation.
27/04/2022	Prices have increased significantly today on a drop-in nominations along the Yamal pipeline following news that Russian gas exports to Poland and Bulgaria have ceased. The NBP curve lifted by around a fifth when the news broke, but prices have since softened on the front of the curve, driven by the bearish fundamentals of a high number of LNG deliveries and good injections into European storage. The UK system is 11mcm long at time of writing, with LNG send out strong at 106mcm. The UK is expecting 11 cargos to deliver by the middle of May. Total demand is 29mcm above seasonal normal, driven by cooler temperatures and low wind increasing the reliance on gas for heating and power generation.
28/04/2022	NBP prices have moved downwards on the front of the curve this morning as good numbers of LNG cargos continue to arrive at UK terminals. LNG send out into the UK system has been up nominating around the 100mcm mark, making up from the drop in Norwegian imports along the Langeled pipeline due to maintenance. 11 cargos are expected to arrive in the UK by the middle of May. Temperature forecasts have also moved slightly warmer, particularly in the second week in May, which should see demand soften. Demand remains up above seasonal normal because of poor wind generation and below seasonal normal temperatures this week.
29/04/2022	NBP prices have opened roughly in line with close yesterday, with the May-22 front month contract up around 2p/th on yesterdays close. The UK is 5mcm short today as the system struggles to meet above seasonal normal demand. This is due to low temperatures and wind speeds. Norwegian imports are also down due to ongoing maintenance. LNG send out is nominating at 102mcm, making up some of the deficit off the back of the drop in Langeled flows. The back of the curve is being supported by gains in wider commodities as the EU look to move away from importing Russian oil, as well as gains in the carbon market being driven by increased
03/05/2022	UK gas prices have opened relatively flat in comparison to Friday’s close with the market reopening today after bank holiday. UK temperatures are set to climb this week, bringing lower consumption as we move towards the weekend. Weather models were revised upwards over the weekend with temperatures set to balance above seasonal average. Total UK demand is 70mcm above seasonal average today as the UK continues to export 58mcm to the continent due to the heavy discount NBP sees against the Dutch TTF. The UK wind output is extremely poor today, leading to 70mcm of gas burn for power which has helped push the demand upwards. Oil prices were volatile on Monday, losing around $3/bbl at 9am as China continued with their COVID19 lockdown plan leading to a likely demand cut. In the afternoon however, prices returned back to the morning level and surpassed it closing higher as the EU discussed sanctions and bans on Russian
04/05/2022	UK gas prices have opened slightly higher in comparison to Tuesday’s close as the UK demand creeps upwards again. Total UK demand is at 271mcm today despite a low LDZ demand at 96mcm. Poor wind generation has led to an increase in CCGT demand with gas burn for power owing to 73mcm of total consumption. Despite the demand holding 76mcm above seasonal norm the UK system is well balanced and able to export 65mcm to the continent through IUK and BBL pipelines.Temperatures are set to warm up through the week and peek mid/ late next week with some days set to reach above 20°C and reducing gas burn for heating. Wind generation will remain poor in the upcoming fortnight which could offset some of the reduced demand level from warmer forecasts.The EU announced plans to gradually ban Russian Oil in the latest round of sanctions with the aim to phase out Crude products in the next 6 months.
05/05/2022	UK gas prices has shown little price action this morning and continue to trade at similar levels to yesterday as mild weather and higher LNG deliveries continue to stabilise the market. Weak wind generation continues to keep the total UK demand inflated well above seasonal average with total consumption 75mcm above average. CCGT demand remains at 72mcm as calm conditions ensure more gas is burnt to generate power. LDZ heating demand has dropped significantly through the week, reaching just 87mcm today with warmer temperatures set to arrive into next week. The UK continues to export around 65mcm to the continent whilst price spreads between the UK and TTF offer favourable premiums for delivery. The UK system remains well balanced despite the increased demand. UK supply remains strong, with 4 LNG cargoes set to arrive next week, with results posted for April LNG delivery putting LNG imports into the UK at the 2nd highest on record behind January 2022.
06/05/2022	UK gas prices have opened slightly lower at the front of the curve today, as bearish weather fundamentals help to provide weakness at the prompt. UK DA has pushed down to trade at around 65p/therm ahead of expected weak delivery next week as wind generation and warmer temperatures will help reduce consumption. Total consumption in the UK has fallen by 10mcm day on day to hit 249mcm. Total demand has reduced as wind generation increased and heating LDZs fall on warmer temperatures. UK temperatures are set to turn 2/3°C warmer over the coming weeks, with days exceeding 20°C in parts which will weaken consumption in coming days. Renewables which have been poor will improve, seeing around 40% load factor compared to around 10-15% over the last week.EU sanctions on Wednesday announcing a phasing out of Russian Oil products lifted the Oil price and it’s currently trading at $111.12/bbl due to threat of reduced global supply. Chinese lockdowns continue to weaken demand and the two fundamentals are cancelling each other out.
09/05/2022	UK gas prices have opened lower at the near curve as demand drops with warmer temperatures and stronger wind generation. UK DA prices closed at the lowest level since early 2021 as oversupply and weak demand helped to collapse the front. Total UK demand has fallen today to 219mcm, down 20mcm from Friday as wind generation has increased. CCGT has fallen to 49mcm from 65mcm whilst LDZ demand has dropped by 5mcm. Temperatures are set to remain warm for the next fortnight with possible temperatures of 24°C with wind generation picking up at the end of this week. Long term forecasts are showing signals of warmer, calmer weather for June and July which could keep demand low. Gains in the UK ETS market on Friday helped keep long term contracts propped up as the near curve fell and the far curve has held on to those gains this morning.
10/05/2022	UK gas prices opened lower on Tuesday as the UK remains well supplied as warmer temperatures and stronger wind generation suppress gas demand. The total UK demand figure for today has fallen again to 203mcm, down 16mcm from Monday and although the figure still sits above seasonal average, consumption is around 70mcm less than last week. Temperatures have climbed up and are set to remain above seasonal norms for the rest of the week which has led to a strong drop in LDZ consumption. Wind generation has strengthened leading to around 30mcm lower CCGT demand. On Monday, Norwegian imports were reduced due to an unplanned outage at Kollsnes facility, taking 10mcm offline. The issue was resolved and Norwegian flows have ramped up from 39mcm to 45mcm today. A weaker energy complex helped to push longer term contracts down on Monday as prompt contracts continued to disconnect from Win-22 and Sum-23. Carbon, Coal and Oil prices all lost value on Monday. Oil prices shed 6% as fears over economic growth in China following COVID lockdowns reduced demand outlook.
11/05/2022	UK gas prices have opened slightly higher on the near curve following a force majeure announcement by Ukrainian system operator suspending Russian gas flows into Sokhranivka border point. During early trading prices had traded down and are below the opening level. Front month contract prices gained around 15p/therm on Tuesday afternoon following the force majeure announcement and despite the significant gains in the session, DA prices still closed at their lowest since November 2020. Average flows of 32.6mcm into Sokhranivka was set to be suspended at 7am this morning. The Ukrainian system operator was willing to reroute volumes to another entry point but this was technologically impossible due to a statement released by Gazprom. Flows this morning have increased at Sudzha but net Ukrainian transit flows are down by around 15mcm. Temperatures remain well above average and near term supply and total UK consumption will remain dampened with stronger wind generation. The UK continues to export at near capacity to the continen
12/05/2022	UK gas prices have opened strongly this morning as reduced Russian gas flows to Europe hit supplies, with the threat of reduced flows heading into winter. Total Russian volumes are 25mcm down day on day, pushing the prompt and near-term contracts higher in European markets. UK NBP has seen Jun-22 lift from 140p/therm at the close to 165p/therm this morning. Further Russian restrictions are expected in June and July when the Nord Stream maintenance begins, which is looking tighter as flows can’t be replaced by Mallnow after Russia stopped flowing through Poland. Warmer temperatures and stronger wind generation in the UK will now likely only limit gains on the front as the dampening demand will remove some of the tightness seen in the short term supply picture.
13/05/2022	UK gas prices have opened lower as bearish fundamentals continue to drive the front of the curve. Milder and windier weather, coupled with strong LNG flows into the UK, is pressuring prices downwards. As many as 8 cargos could arrive before month end with demand set to drop away as temperatures and wind generation are forecasted to rise in the coming weeks. The back of the curve continues to be supported by reduced Russian gas flows to Europe, despite nominations stabilising along the Velke pipeline in recent days after a drop off earlier in the week. Oil is taking support from ongoing EU discussions centred around a move away from Russian oil. However, increasing US production and decreasing demand in China, due to a rise in coronavirus cases, is keeping a lid on the gains.
16/05/2022	Prices have lifted on the front of the NBP curve this morning following a shift in system dynamics. The UK system is 4mcm short at time of writing with total demand at 22mcm, 11mcm above seasonal normal. Whilst UK exports along the IUK interconnector continue, low wind generation is putting extra strain on the system, with gas for power demand up 22mcm day on day. Langeled flows are nominating at 43mcm with an unplanned outage at Kollsness taking 6mcm of capacity offline, this comes on top of lost capacity from pre-planned maintenance events. LNG send out is nominating at 48mcm, with 9 cargos expected to hit the UK before the end of the month. Nominations along Velke Kapusany have dropped 17mcm day on day, tightening Russian supply into Europe
17/05/2022	Prices on the NBP have lifted throughout the morning on a tight system and gains in the wider commodity markets. The UK system is 4mcm long at time of writing, with total demand at 225mcm, 30mcm above season normal. Low wind generation continues to put extra pressure on supply with gas for power demand nominating at 56mcm. An unplanned outage at Kvitebjorn, due to a compressor failure, is taking 9mcm of Norwegian capacity offline, curtailing imports along the Langeled pipeline. Oil rose around 3% yesterday as the market weighed up comments from Saudi Arabia’s energy minister that suggested production cannot be increased enough to stem prices. Further bullish sentiment is coming from the prospect of the European Union banning Russian oil imports
18/05/2022	Prices have opened higher on the NBP this morning as the market continues to lift on security of supply concerns. Despite the gains, the fundamentals remain bearish with warmer weather, good LNG flows and injection into storage all driving divergence between prompt prices and the rest of the curve. The UK system is 12mcm long a time of writing, with total demand at 223mcm, 29mcm above seasonal normal. Norwegian imports have improved today, with nominations lifting to 65mcm along the Langeled pipeline, following yesterdays outage at Kvitebjorn coming to an end. Temperatures in the UK are 4 degrees above seasonal normal today, with the warmth expected to last until next week before temperatures will return back down to seasonal normal levels.
19/05/2022	The NBP has opened roughly in line with yesterday’s close as the market continues to digest the bearish news of the EU’s plans to move away from Russian gas imports. Counteracting this driver, EDF have reduced nuclear output forecasts by 5% for the remainder of this year, due to outages for inspections and repairs. The UK system is 5mcm long at time of writing, with total demand at 226mcm, 32mcm above seasonal normal. The system dynamics remain similar to yesterday with Langeled flows turning down 12mcm, to 53mcm. Weather forecasts have also moved a touch cooler with lower temperatures now forecast for the middle part of next week, although generally temperatures remain above seasonal normal in the 2 week forecasts.
20/05/2022	NBP prices opened lower than the previous session but have since lifted throughout the morning as temperatures cool and wind forecasts drop, increasing demand. Despite this increased demand, the UK system is 9mcm long at time of writing with total demand at 232mcm, 45mcm above season normal. LDZ demand has lifted to 82mcm, with gas for power demand also strong at 52mcm. The supply picture remains similar to previous days this week, with Langeled flows nominating above 60mcm despite ongoing planned maintenance. Weather forecasts have held steady overnight with cooler and windier weather set to deliver next week. We have also seen some volatility in the oil markets over the last few sessions, as gains driven by increasing Chinese demand trades off against downwards revisions in global economic forecasts off the back of rises in inflation and increased costs of living.
23/05/2022	UK gas prices opened slightly lower on Monday morning before quickly trading back upwards, holding a slight premium to Friday. Front month Jun-22 has climbed back above 140p/therm. Temperatures are set to fall back in line with seasonal averages after the warmer spell of weather recently, pushing LDZ demand up slightly as the weekend approaches. Wind generation is set to increase greatly through the week with periods on Wednesday pushing a 50% load factor for renewables in the UK stack. Norwegian outages have impacted near term prices this morning with Karsto processing plant out until the weekend with around 20mcm offline, whilst Troll field tripped at the weekend taking between 15-17mcm offline, mainly impacting the UK. This is expected to be back online today. Total Russian flows are down by 25mcm compared to Friday and have dropped below 200mcm/d at the weekend, with reverse flows on TAG contributing to the lower overall flow. There has been no impact on Russian flows following countries not following the Rouble payment protocol besides the suspension in gas flows to Finland which came on Saturday
24/05/2022	UK prompt gas contracts traded upwards on Monday, supported by expectations of maintenance at St Fergus, restricting Norwegian flows by around 15mcm/day. Prices have opened largely flat in comparison to Monday’s close today as tighter supply weighs on markets. Further out on the curve, weakness in Coal and carbon prices helped to pressure contracts with those periods trading slightly lower today. Total UK demand is at 230mcm today, 46mcm higher than seasonal average as the UK continues to maximise exports to the continent. Wind generation has significantly increased leading to lower CCGT demand, but storage withdrawals were utilised to continue max exports. Temperatures are set to return to a more normal range towards the end of the week, with a cooler weather spell presenting itself to the UK. This will increase wind generation, likely to offset heating demand. As we move into the following week, high pressure builds and temperatures should once again exceed averag
25/05/2022	UK gas prices are largely in line with the close on Tuesday as stronger wind generation offsets weaker Norwegian flows into the UK. Summer maintenance and an unplanned maintenance at Troll field has left Langeled flows to the UK well below capacity and that continues to be seen today, with flows at 35mcm, around 40mcm below averages seen in April and May. Wind generation is expected to reach 12GW today and has pushed down CCGT demand from 60mcm to 32mcm. Reduction in UKCS flows due to ongoing maintenance at St Fergus and weaker Norwegian volumes resulted in a 28mcm withdrawal from UK storage on Tuesday. Temperatures are set to fall into the weekend with a lower pressure system moving west, which will bring below average temperatures to the UK for the back end of this week and into next. Longer range forecasts continue to show a warm and calm June which should suppress total demand. Carbon prices rallied on Tuesday afternoon following recent losses as reports suggested that the EU is set to release EUAs via the market stability reserve over the next few years which could lead to a tighter market for credit allocation
26/05/2022	UK near term gas prices have found support this morning as cooler temperatures and continental exports continue to keep demand above average. Total UK demand is set to reach 204mcm today, down 4mcm day on day but still 21mcm above seasonal norms. Temperatures will remain below average through the weekend and the weather outlook for June has changed overnight with a more unsettled picture bringing some cooler temperatures for the first half of June which has increased the demand outlook. The DA contract was pressured by bearish momentum despite the gains on the near curve as strong wind generation shrugged off the impact from Norwegian outages for the contract to close below 100p/therm. Near curve prices tracked upwards on Wednesday with Chinese lockdown restrictions beginning to end which could increase the competition for LNG through the summer months as growth returns to Chinese and Asian markets
27/05/2022	UK gas prices have opened slightly lower this morning with DA and near term contracts pushing down as renewable output and improving Norwegian flows ahead of next week pressured prices. Skarv field, offline for maintenance is set to end today whilst the unplanned outages at Troll and Karsto are planned to return over the weekend, boosting Norwegian flows to the UK for next week. This will coincide with warmer temperatures and will lead to a more comfortable setup for UK supply. The total demand for today has increased slightly, pushing up from 204mcm to 219mcm due to cool temperatures and a weaker wind generation. Over the past two days renewable generation has been extremely strong in the UK but a reduction for Friday has boosted CCGT demand. Oil prices had a bullish move on Thursday and opened strongly this morning, breaking back through $117/bbl as the US demand is set to pick up with their driving season and reports Chinese demand could begin to increase
30/05/2022	Prices have opened higher on the NBP this morning with cooler and calmer weather driving demand upwards, causing prices to lift on the front of the curve. The UK system is 4mcm short, with total demand at 263mcm, 98mcm above seasonal normal. Both domestic heating and gas for power demand is up with temperatures and wind speeds dropping below seasonal normal in the first half of this week. Longer dated weather forecasts should see demand fall away as temperatures recover back to seasonal normal as we move through the month. Oil is also offering support with strength coming from ongoing talks around the EU imposing an embargo on Russian oil imports. Chinese demand could begin to increase.
31/05/2022	Prices are up again today on the NBP, driven by increased demand and the EU reaching an agreement on banning Russian imports of oil. Brent has lifted to $120/bbl as a ban covering two-thirds of Russian imports, specifically those that arrive by sea, is set to come in by the end of the year. The UK system is 4mcm long at time of writing, with supply meeting the increased demand following a tick up in Langeled nominations due to easing maintenance restrictions. Demand is up due to increased domestic heating demand off the back of cooler weather. Low wind generation is also pushing up power burn.
01/06/2022	Prices have opened lower on the NBP this morning, driven by returning Norwegian capacity and an increase in Russian imports to Europe. Nominations along the Nord Stream have risen 14mcm day on day, increasing total flows to 193mcm. Langeled is flowing higher than what we’ve seen recently, at 60mcm. This is due to a decrease in lost capacity with some maintenance events coming to an end. Norwegian imports into the UK are set to drop again from June 8th with annual maintenance due to take place a Troll. Demand remains well above seasonal normal with the UK still experiencing cooler and calmer weather, with low temperatures and wind speeds driving domestic heating and gas for power demand. There are also reports that the UK government is exploring the possibility of bringing back the storage facility at Rough, to increase the UK’s security of supply.
06/06/2022	Gas prices closed last Wednesday with a slight move down ahead of the bumper bank holiday weekend in the UK. Markets have been closed for 4 days ahead of opening today. UK demand is well above seasonal today, holding at 247.5mcm as temperatures fall closer to seasonal as well as the UK continuing to export to the continent. CCGT demand has picked up to 59mcm as a lull in wind generation lifts the gas burn. Temperatures have been revised downwards over the long weekend, with temperatures set to fall below seasonal over the weekend and to start next week. With the changeable weather conditions approaching, wind generation will increase towards the end of the week and this should offset demand increase from the cooler temperatures. Oil prices have lifted again and have held above $120/bbl with prices lifting in early trading today. Saudi have increased their price for July deliveries which has offset the increased production from OPEC+ countries, whilst China coming out of lockdown is likely to lead to increased demand on the commodity.
07/06/2022	UK gas prices have opened lower on Tuesday, with all contracts across the curve posting losses compared to Monday’s close. There was strong downside on the far curve across continental European markets as the EU parliament voted on climate change action. There is a final vote on Wednesday, but expectations are that a 63% drop in 1990 CO2 levels by 2030 will be spearheaded by market reform on the EU ETS. Carbon prices fell sharply and pulled further dated contracts down with them. Total UK demand has fallen today from 247mcm to 234mcm with most of the reduction coming from the heating zones in the LDZs. Lower wind generation has lifted gas burn by 6mcm day on day. Near term contracts have opened lower this morning despite upcoming maintenance which is set to remove around 175mcm/day of Norwegian supply, set to last from 8th–11thJune.
08/06/2022	The NBP has opened lower this morning as weaker demand helps to pressure the near curve, despite lower Norwegian supplies. Troll and Kollsnes facilities in Norway are undergoing a period of seasonal maintenance beginning today, removing 175mcm/day offline. This is expected to last until 11thJune. To compensate for this, the UK has turned to storage withdrawals to balance. Storage withdrawals are nominated at a rate of 40mcm for today. Total demand is at 218mcm today, lower day on day but the figure remains above seasonal average. Strong exports to the continent continue to lift the UK total demand. The UK system is 12.8mcm long this morning with supply outweighing total demand. Overnight weather models have pushed lower, with more changeable and cooler temperatures now expected for the next 2 weeks. A warmer move into this weekend remains, however cooler temperatures and stronger wind generation are likely to deliver for much of the next working week. The EU will vote on their climate change policies today, reported to be a 63% drop in 1990 CO2 emissions.
09/06/2022	UK gas prices have soared this morning on the back of news from the US that an explosion at an LNG facility in Texas will close for 3 weeks. At 11:40, in Texas, emergency crews were called to Freeport LNG terminal (2nd largest in the US) after an explosion at the facility. There were no injuries but as a result the terminal will be shut down and remain shut for a minimum of 3 weeks. This has lifted near term contracts across Europe with the possible threat of a disruption to LNG imports. The news arrives as Norwegian flows were at their lowest due to seasonal maintenance at Troll and Kollsnes, but Langeled flows to the UK have more than doubled today, climbing back to 64mcm, from 20mcm yesterday. This has helped to offset further gains on the contracts. Total UK demand remains in line with yesterday, remaining above seasonal average whilst exports to the continent continue. Stronger wind generation is set to reduce CCGT demand later today and into tomorrow which could help reduce UK consumption.
10/06/2022	UK gas prices have opened slightly lower on Friday as UK supply and demand improved to pressure the near curve. DA gas prices for delivery today are at their lowest for 2 years since June 2020. Wind generation has been revised upwards for today helping to push power generation in the form of CCGT lower to 36mcm, the lowest value of the week. UK demand has lowered with warmer temperatures helping to reduce LDZ demand and exports to the continent have fallen due to a potential issue at the UK side of the IUK. Impurities in gas have been reported with a possible filter issue which has lowered the capacity available to export. Total consumption is below 200mcm for the first time this week, helping to keep the UK system well balanced. Temperatures are set to remain warm for the weekend with wind output set to help with renewable generation through the weekend. Oil prices pushed up on Thursday after the EIA announced US Crude stocks were below the 5 year average, although they have eased this morning as parts of Shanghai returned into COVID lockdown just one week
13/06/2022	NBP prices have opened higher this morning, driven by a short system and decreasing Russian flows to Europe. The UK system is 22mcm short at time of writing with total demand at 211mcm, 37mcm above seasonal normal. Supply is down on reduced US LNG volumes following the fire at Freeport. Norwegian maintenance is also curtailing imports into the UK. Russian flows are down 19mcm day on day with Nord Stream nominations going from 136mcm yesterday, to 118mcm today. Temperatures are set to start ramping up as we move towards the weekend, with forecast for Saturday reaching as high as 6 degrees above seasonal normal. However, as temperatures rise, gas for power generation is expected to pick up due to a drop in wind speeds over a similar period.
14/06/2022	An undersupplied market continues to drive prices upwards today, with the UK system 11mcm short. Low wind forecasts and ongoing Norwegian maintenance is driving the short. Total demand is at 223mcm, 49mcm above seasonal normal. Temperatures are set to climb to 6 degrees above seasonal normal as we move through the week, before dropping below at the end of the month. Gas for power demand is being driven by the low wind generation, with forecasts showing 2 m/s below seasonal normal until the weekend. 5 LNG vessels are expected to hit UK shores by month end.
15/06/2022	The front month Jul-22 contract lifted above the 200 p/th mark yesterday with the gains continuing into today, with the contract currently priced at 206.90 p/th. The curve has also continued to lift with the front season W22 contract priced at 273.30 p/th currently, roughly 4 p/th up on yesterdays close of 269 p/th. An extension to the Freeport LNG terminal outage in the US has driventhe gains across the curve. The facility is now planning a partial restart after 90 days, longer than the initial 3-week outage reported last week. Technical failures at a pumping station islimiting the pipeline capacity along the Nord Stream. Nominations are below 100mcm/day, down from 140mcm prior to the capacity loss. This is adding supply tightness to European gas markets and supporting prices. Demand forecasts are rising with warmer weather and low wind driving increased cooling and gas for power demand. The UK system has been short all week as a result.
16/06/2022	The NBP has lifted significantly since yesterday’s afternoon session off the back of further decreases in capacity along the Nord Stream pipeline. The Jul-22 front month contract closed at 249.70 p/th yesterday, after opening above the 200.00 p/th mark. Currently it is being priced at 285.00 p/th at time of writing. Nominations along the Nord Stream are down to just 67mcm, whilst flows to Italy have also turned down. These decreases in Russian gas imports and the issues at the Freeport LNG terminal are creating a significant tightness in the supply of gas to Europe, causing prices to rise. UK demand is set to increase with temperatures expected to rise 6 degrees above seasonal normal over Friday and Saturday. High temperatures, coupled with low wind, will see an increase in gas for power demand. The UK system is currently balanced at 0.1mcm short. Total demand sits at 218mcm, 45mcm above seasonal normal.
17/06/2022	NBP prices have opened higher this morning as the volatility over recent days shows no sign of slowing down. The market is buoyed by a drop in Russian flows to Europe, with Nord Stream nominations at 61mm today, 55% lower than this time last week. Despite this mornings gains, the UK system is 13mcm long, with total demand at 202mcm, 33mcm above seasonal normal. Temperatures are set exceed 30 degrees in the south of the UK today, with domestic heating demand dropping off as a result. Oil has softened on demand fears centred around a slow down in global economic growth, with both the US and the UK lifting interests rates this wee
20/06/2022	Prices have opened higher on the NBP this morning with liquidity poor to start the week. The July-22 front month contract is pricing around 218 p/th, 18 p/th higher than Friday’s close. The system is 12mcm long at time of writing, with total demand at 216mcm, 44mcm above seasonal normal. Temperatures have eased, after warmth over the weekend, with a mixed weather outlook over the next week. Some warmth is expected initially, before low pressure moves back in at the weekend. LNG send out is nominating at 40mcm, with 5 cargos heading to the UK by the end of the month. Norwegian imports along the Langeled pipeline are nominating at 54mcm with maintenance ongoing. Oil has moved lower over the weekend, currently pricing at $112.20/bbl, on demand fears around a slow down in global economic growth.
21/06/2022	UK gas prices increased this morning upon open with supply tightness and concerns around European supply continuing to support the prompt and near curve. Weak renewables have also led to stronger demand for gas. The UK demand is 50mcm above seasonal average, despite the warm temperatures and total consumption of 221mcm is forecast. 58mcm of this figure is in the form of CCGT whilst the UK experiences a calm period of weather. Russian flows have fallen by a further 5mcm day on day to hold at 95mcm, with NEL pipeline down to just 15mcm, down from 90mcm this time one month ago. The Dutch government have announced Coal fired plants can fire up again and Groningen gas field will produce up to 2.8bcm from October 2022 rather than completely shutdown to provide supply for this winter. Nord Stream 1 pipeline is flowing well below capacity due to the issues announced last week, with seasonal maintenance set to begin on 11th – 17th July where there will be 100% volume offline
22/06/2022	UK gas prices have pushed upwards this morning first thing as the UK opened with a short system, strong demand and impacted by unplanned outages. Total UK demand is set to reach 220mcm today, just 1mcm lower than on Tuesday. This remains well above seasonal norm (170mcm). CCGT demand is up day on day, climbing to 60mcm as wind generation remains weak. The high pressure system remains prevalent lifting temperatures and keeping LDZ heating demand weak. An unplanned outage in the UK took Elgin field offline, limiting the production from Bacton terminal, as well as Troll field turning down for maintenance today. Total Langeled flows have reduced to 26mcm today whilst UKCS is at 52mcm (20mcm below capacity). Oil prices have fallen back below $110/bbl as weak Chinese economy data was published leading to growing fears of a slowdown in consumption, whilst global recession fears also weighed in on demand.
23/06/2022	The UK gas curve traded with a mixed bag on Wednesday, with near term contracts losing value, whilst further dated curve contracts found some support. DA and prompt contracts lost around 15p/therm within day with Troll maintenance pushed back until today and an oversupplied system helped contribute to losses. Further out, the continued risk of supply throughout winter pushed the Win-22 and Sum-23 contracts upwards. Norwegian restrictions have increased today, from around 36mcm to 55mcm as Troll maintenance is conducted. Reduced Norwegian supply has led to the UK withdrawing gas from medium range facilities meaning the point in which 100% gas in storage will be hit has been pushed back. Injections should return on Friday when demand lowers and Norwegian volumes resume. Total UK demand remains above seasonal norms, with consumption set to reach 217mcm, 46mcm above seasonal norms, with strong demand on UK exports and CCGT demand due to weak wind generation. An extra 3mcm will be burnt today to generate electricity
24/06/2022	The UK gas curve traded in opposite directions on Thursday, with near term and prompt contracts pressured by the improving wind generation forecasts, whilst the far curve continued to find support from the ongoing supply uncertainty. Improved Norwegian volumes to the UK today with total flows increasing to 41mcm, with Troll field and other outages are set to resume operation over the weekend. The unexpected drop in Elgin Franklin field impacting processing at Bacton in the UK remains offline and has been extended until 25th June. Total demand remains well above seasonal average as the UK continues to export at full capacity to the continent, whilst a small reduction in CCGT has brought overall consumption down for today. Wind generation is expected to rise today and continue to do so over the weekend, helping to reduce that gas burn even further in the coming days. Temperatures are set to fall over the weekend, and next week the UK is in line for more seasonal temperatures with a more changeable outlook set to close out June.
27/06/2022	The NBP has opened higher this morning with the front month Jul-22 contract currently pricing at 164.95p/th, roughly 2.5p/th up on Fridays close. A short system and an unplanned outage at Ormen Lange have driven prices higher. The UK system is 6mcm short at time of writing with total demand at 224mcm, 53mcm above seasonal normal. LDZ demand has lifted versus last week with temperatures returning back to seasonal normal after a period of warmth. Gas for power demand is nominating at 57mcm, with wind generation set to improve as we move through the early part of this week. LNG send out is nominating at 34mcm with 6 cargos expected by the middle of July. Langeled is nominating at 48mcm, with an outage at Ormen Lange taking 13mcm of capacity offline. The wider energy complex is bearish as the G7 meet this week with increased focus on tackling rising energy prices. The Iranian nuclear deal is on the agenda for discussion, with the possibility of a price cap on Russian oil exports also being reported on.
28/06/2022	Prices have lifted on the NBP this morning driven by gains in the wider energy complex. Oil is up with Brent at $112.65/bbl with G7 leaders looking to implement further sanctions on Russian oil imports. Carbon is also up on increased reliance on coal for power generation, following the tightness in the supply of gas to Europe. The UK system is balanced at 0.3 mcm short, with total demand at 210mcm, 40mcm above seasonal normal. The supply dynamics remain similar to yesterday, with the unplanned outage at Ormen Lange ongoing, taking 13mcm of Norwegian capacity offline. On demand, gas for power generation is softening as wind generation is up on yesterday.
29/06/2022	The NBP has opened higher this morning on further strength in wider commodities and increasing demand due to a drop in wind generation. The Jul-22 front month contract is currently pricing at 187.00p/th, 14p/th higher than last night’s close of 173.00p/th. Carbon continues to strengthen on ETS market reforms and increased demand driven by coal switching. Oil is up on tightness in supply and developing discussions on further sanctions on Russian oil imports. The UK system is 3mcm long at time of writing. Total demand sits at 216mcm, 45mcm above seasonal normal. The supply and demand nominations remain similar to previous days this week, with LNG nominations gradually having increased to 47mcm. The weather is set to drive demand upwards with a drop in wind generation forecast for the remainder of the week. Temperatures are set to be hovering around seasonal normal through early July.
30/06/2022	The NBP curve has lifted at open today as tightness in supply continues to drive European gas markets. Norwegian imports into the UK have dropped today following the start of maintenance at Oseberg. The unplanned outage at Ormen Lange is ongoing, taking 13mcm of capacity offline. Despite this lost capacity, the UK system is 12mcm long at time of writing, with total demand at 229mcm, 59mcm above seasonal normal. On demand, gas for power generation nominations have increased to 61mcm with reduced wind also impacting prices. Today will also some price movmeent in the oil markets as an anoucement is set to come from OPEC on production levels, with a modest increase epected for August.
01/07/2022	UK gas prices have pushed up this morning as Aug-22 and Q4-22 become the front products after July and Q3-22 expiry. Gas prices found some support from increasing carbon and coal prices on Thursday, with further dated curve contracts all pushing upwards. Win-22 contract lifted by 13p/therm, closing in on the 400p/therm mark once more. Stronger wind generation and a lift in forecast temperatures ensured that Jul-22 closed lower on Thursday despite August and September gaining in value. Total UK demand remains above seasonal as shippers continue to export to the continent with UK storages largely full and any oversupply is easily rerouted due to price spreads on the TTF to NBP. CCGT demand has increased today, with wind generation set to remain below average for the next week. Oil prices have fallen considerably on Thursday and early trading today as global recession fears increase a demand destruction coupled with poor liquidity as the US closes markets on Monday for 4th July holidays.
04/07/2022	UK gas prices have started the week strongly with all curve contracts posting early gains as supply issues continue to push risk premiums into the market. The Win-22 contract has traded over it’s reocrd high this morning, pushing up towards 410p/therm. Russian volumes remain steady at 100mcm, around 40% of total capacity available but European supply is being impacted by strike action in Norway, with disruptions expected on Wednesday unless an agreement can be reached. Langeled flows to the UK remain below expectations even with the unplanned outage at Ormen Lange being resolved. UK temperatures are set to increase through the week, bringing stronger wind generation at times which is set to limit the CCGT demand. LDZ and CCGT demand is expected to be lower than seasonal average, but total UK demand remains strong due to exports to the Netherlands and Belgium. Oil prices have pushed up over the weekend and have broken back through $110/bbl as OPEC production remains below their pledged level as political unrest in Libya has led to a drop in production and Russian sanctions continue to bring supply concerns.
05/07/2022	UK gas prices have lifted once more as Norwegian strike action beings on Oil fields with gas field disruption expected from tomorrow. Total UK demand is up 7mcm day on day, lifted by a 4mcm/day increase in CCGT demand due to lower wind generation, and stronger Medium storage withdrawals to help balance. Total UK consumption remains above seasonal due to the max exports to the continent. Russian volumes have fallen by around 5mcm through Nord Stream 1, ahead of likely disruption from Norwegian gas fields as strike action over pay takes place tomorrow, which is causing concerns on the supply side. If the action is to go ahead before any agreement is reached it’s set to take around 35mcm/day offline. Delays could be possible in the restart of the US Freeport LNG terminal as the facility released a statement which informed the market that the facility would not be operational until an independent audit from the US Hazardous Materials safety team surveyed the site
06/07/2022	UK NBP gas prices opened significantly lower this morning following the Norwegian governments move to avert Oil and gas field production workers strike action. On Tuesday evening, strike action was called off with talks set to continue removing the risk of around 55% drop in Norwegian exports. Langeled flows into the UK remain flat day on day, helping to provide a boost to short term supply. Total UK demand has fallen below 200mcm for the first time since 10th June with increased wind generation helping to reduce CCGT. Total UK consumption is expected to hit 194mcm today and even with max exports continuing the grid remains 20mcm long. Supply remains curtailed across Russian assets with Nord Stream 1 maintenance to begin on Monday, but the risk of Norwegian/ Russian outages happening simultanesouly has been averted. Oil prices had their largest daily drop in over 3 months on Tuesday, losing $6 per barrel as early reports suggests the US economy has contracted over April – June, the second straight quarter of contraction.
07/07/2022	The UK gas curve opened strongly this morning with all curve contracts showing gains against last nights close. The liquidity on the NBP remains poor with lack of sellers into this market and wide bid/offer spreads continuing to push contracts upwards. UK demand has picked up this morning by 20mcm, rising back to 218mcm, leaving the UK system short as CCGT demand increased by 13mcm day on day. Langeled flows to the UK remain consistent day on day with the strike action avoided. Nord Stream 1 maintenance to begin on Monday 11th July lasting 10 days. Temperatures are set to turn very warm and hot across the weekend, with the working week next week forecast for temperatures over 30°C in Southern parts of the UK. Temperatures will largely be well above seasonal average across the UK. Wind generation will drop below seasonal as the high pressure system moves in. Oil prices pushed below $100 barrel briefly on Wednesday, pressured by growing recession fears which could see a significant drop in demand of the commodity.
08/07/2022	UK gas prices opened lower this morning but have traded with some volatility in the morning session. Fronth month August-22 contract opened lower but has sincce traded as low as 275p/therm and higher than 300p/therm. Wind generation has dropped slightly this morning, resulting in an increase of CCGT demand by 15mcm, keeping the total UK forecast above 210mcm. The UK grid opened slightly short but by 9am was holding length. LNG availability remains strong into Europe despite the Freeport terminal issues with 5 cargoes set to arrive into Britain by 19th July. Temperatures are set to soar this week, with most parts of Britain expected to reach the hgh 20s with parts of the South reaching mid 30s as high pressure brings a plume of hot air into the region. A final reminder that Nord Stream 1 maintenance begins on Monday, dropping flows from 64mcm to zero, lasting until 20th July. For updates on the resumption and progress of this, please continue to read our commentary reports.
11/07/2022	UK gas prices have opened higher this morning as maintenance gets underway along the Nord Stream 1 pipeline. The DA price has gone from Fridays close of 166.00p/th, to 214p/th at time of writing today. We have also seen weaker gains across the rest of the NBP curve. Over the weekend we saw Canada grant permission for a turbine to be returned to Germany, with Russia also announcing on Friday that turbine repairs on the Nord Stream are complete. The pipeline has been flowing at 40% capacity over the last couple of weeks. With nominations now at 0mcm, the market will take direction from the nominations after the maintenance period has ended on the 21st of July. The UK system is balanced at 1.4mcm long. Total demand is at 208mcm, 41mcm above seasonal normal. The warmer weather continues in the UK with 30 degree temperatures expected early this week and early next week, with temperatures lifting 6 degrees above seasonal normal.
12/07/2022	Prompt contracts at the NBP surged on Monday amid unplanned outages at several Norwegian assets, combined with zero flows via the Nord Stream pipeline. The British system was sent up to 18mcm short as ‘process problems’ at five different Norwegian assets combined to take a massive 153mcm offline throughout the session, according to data from offshore operator Gassco. The cut in supply resulted in huge gains posted across the prompt with the Day-ahead contract gaining 52p/therm (1.78p/kWh) when compared to its previous close. Supply concern intensified as Russia’s Gazprom announced they would be cutting volumes to Italy by a further 34%, on the same day that volumes fell to zero via the Russia-Germany Nord Stream pipeline. This morning the NBP has opened firm, with the Winter 22 contract last trading 19p/therm (0.65p/kWh) above its previous close, at time of writing.
13/07/2022	NBP prices have opened higher across the curve this morning with reduced Norwegians flows compounding the tightness in supply issues Europe is facing at present. Unplanned outages at Sleipner and Nyhamna, along with pre-planned events, are taking a combined 115mcm of Norwegian capacity offline today. This capacity loss comes as Russian exports to Europe are at record lows with the Nord Stream currently under going maintenance. The UK system is 14mcm short, with Langeled nominating at just 9mcm as a result of the ongoing maintenance. Total demand is at 207mcm, 41mcm above seasonal normal. Despite the drop in domestic heating demand because of warmer temperatures, gas for power demand remains relatively high with low wind generation and increased cooling demand. Brent is hovering around the $100/bbl mark, a key level of resistance. Demand fears are driving oil prices downwards with the slowdown in global economic growth and increasing coronavirus cases in China.
14/07/2022	Prices are down on the NBP this morning, with the front month Aug-22 contract currently trading at 252.00p/th, down 24p/th from yesterdays close. The market is taking direction following a boost in Norwegian imports. Langleled nominations are up to 34mcm today following the return of lost capacity at Nyhamna due to an unplanned outage. Despite the increase in Norwegian flows, the UK system remains tight at 2mcm short. Total demand is at 215mcm, 49mcm above seasonal normal. Very strong warmth is set to come in at the weekend, peaking on Tuesday. Wind generation will drop away during this period with cooler air setting in during the middle part of next week.
15/07/2022	It’s a mixed bag at open with prompt prices higher than yesterdays close and then softening throughout the morning. Nuclear availability in France is dropping due to the extreme heat building in Europe, with water temperatures exceeding the threshold required for cooling. This comes on top of an already tight supply picture with Russian flows down significantly due to the ongoing Nord Stream maintenance. In the UK, we have had some Norwegian capacity return to the supply mix. With the outages at Nyhamna and Sleipner now over, Langeled is up nominating at 58mcm. The warmer temperatures are set to come back in from today. Tuesday will see the hottest temperatures, with the UK now forecasted to reach as high as 38 degrees.
18/07/2022	UK gas prices opened slightly higher than Friday’s close, with most contracts across the curve posting small gains. After the initial open, prices have favoured the downside with front month Aug-22 dropping below 200p/therm for the first time since 14thJune.
	climbing to 224mcm (up 8mcm) as lower wind generation and stronger warmth lift the CCGT demand. UK temperatures could hit all time records today with forecasts of 40°C expected in parts. Both LDZ and industrial demand has lifted. "
19/07/2022	UK gas prices have opened strongly this morning, with front month Aug-22 contract pushing back up to 230p/therm as the UK opens with a short system and increased demand.The heatwave continues to keep demand inflated as CCGT and cooling loads increase across the country. Total demand is expected to reach 202mcm, 40mcm above seasonal norms with CCGT demand at 57.9mcm.
20/07/2022	UK gas prices have opened higher this morning fuelled by a short UK system and stronger CCGT demand. Prices turned bullish on Tuesday, with near curve contracts posting gains finding support from the increased demand for cooling during the heatwave. Nord Stream 1 maintenance ends today, with flows expected to come back online on Thursday morning. Comments from Russia and Putin suggest that flows will return on time but cast doubt on whether the 40% capacity witnessed before the closure would pick back up completely. It seems more likely that half of this figure will return.
21/07/2022	UK gas prices opened higher this morning despite Nord Stream 1 flows coming back online following the maintenance period. Early trading liquidity has been poor with wide bid/offer spreads on the market which could explain the larger gains witnessed on NBP compared to continental markets. Nord Stream 1 volumes came back online this morning, initially flowing at around 47mcm/day, before ramping up to 64mcm/day after the first hours. This volume is a similar level to the rates that were flowing before the maintenance window but still at only 40% of full capacity. Ongoing issues with a turbine that has been repaired in Canada is leaving some uncertainty as to whether flows could drop again before the end of July.
22/07/2022	UK gas prices have opened strongly this morning, leading gains from the close on Thursday with concerns around longevity of NS1 flows with the ongoing turbine issue threatening to reduce volumes. The UK system has opened short again this morning for a 9thworking day in a row whilst demand remains well above seasonal. Total forecast is expected to reach 223mcm today, with seasonal averages at 161mcm. Poor wind generation continues to lift CCGT demand contributing to 60mcm of demand.
25/07/2022	Liquidity has been poor at open on the NBP today, with a lack of price action further out along the curve. The front month Aug-22 contract is trading at 304p/th, roughly 7p/th lower than Fridays close. Over the weekend we saw developments with regards to a Nord Stream 1 turbine required to fix an upstream issue, with the correct transit documentation now in place for the turbine to be delivered.
26/07/2022	NBP prices have risen today off the back of tightening Russian flows. The Nord Stream 1 is set to drop to just 20% of capacity by tomorrow, with flows already dropping 6mcm first thing this morning. The front month Aug-22 contract has lifted to 355p/th as a result, up around 40p/th on yesterday’s closing price.
27/07/2022	NBP prices have risen to unprecedented highs across the curve following the reduction of flows along the Nord Stream 1 pipeline to just 30mcm, further tightening supplies into Europe. Below seasonal normal wind generation is also adding fuel to the fire with an increased reliance on gas for power generation. The US are expected to raise interest rates today in order to limit the rise of inflation. Overnight, Biden also announced a release of another 20m barrels of oil from the US strategic reserve, on top of the 180m announced earlier in the summer, in attempts to alleviate the tightness in supply in the oil markets.
28/07/2022	NBP prices have opened slightly lower this morning, with the market finding a balance after consecutive sessions of gains. The Aug-22 front month contract is pricing around the 368p/th mark currently, roughly 4p/th lower than yesterday’s closing price. The drop in Nord Stream 1 flows continues to keep prices elevated, with nominations changing from 34mcm to 31mcm, a drop of 3mcm day on day. The UK system is 5mcm long at time of writing. Total demand is at 211mcm, 47mcm above seasonal normal. IUK exports to Europe have improved slightly day on day to 49mcm. LNG send out is nominating at 21mcm, with only 3 cargos expected to hit UK shores by August 6th. The weather is generally set to be warm and calm over the next 2 weeks with gas for power demand up on low wind generation.
29/07/2022	NBP prices initially opened higher than yesterday close, with liquidity poor first thing this morning. Since then prices have softened, following yesterdays trend. The Aug-22 front month contract closed at 325p/th yesterday, with the same contract trading at 315p/th at time of writing. The UK system is balanced at 1mcm short, with total demand at 212mcm, 52mcm above seasonal normal. The system dynamics are similar to yesterday with low LNG send out on the supply side and increased gas for power demand, off the back of low wind generation, on the demand side. There has been a 1 mcm drop in Russian flows along the Velke pipeline day on day, with the Nord Stream maintaining nominations at 31mcm.
01/08/2022	UK gas prices opened strongly this morning, pushing upwards compared to Friday’s close. Prices had retraced down on Friday ahead of the weekend but following the market close there were updates on the Siemens turbine and Nord Stream 1 pipeline which has caused the market to gap upwards today. It remains unclear the duration that NS1 will remain offline for, with further uncertainty created as Gazprom said that delivery of the Nord Stream 1 turbine to Germany was not in line with the contract.
02/08/2022	NBP gas prices opened slightly up this morning despite more comfortable supply dynamics within the UK system this morning, as uncertainty around European supplies from Russia continue to drive markets. Total UK demand is at 169mcm today, only 6mcm above seasonal norm, the lowest value witnessed since 23rdSeptember 2021. UK demand has reduced by around 30mcm day on day due to increased wind generation halving the CCGT demand. The gas demand for generating electricity has dropped from 59mcm on Monday to just 33mcm today, as wind generation increased by 0.6GW overnight and climbed above seasonal average.
03/08/2022	UK gas prices held relatively flat this morning despite an increase in demand. Total UK consumption increased by 20mcm due to an increase in CCGT as wind generation is set to fall. The UK system opened balanced at 0mcm, although it was taking assistance from storage withdrawals. Temperatures are set to turn warmer over the week with a high-pressure system set to pull warm air up from the continent. Wind generation during this period is to drop below seasonal average and could lead to a similar set up to today where increased CCGT continues to dominate.
04/08/2022	UK gas prices remained flat this morning across the curve with prices continue to hold their highly volatile, high price levels. Following market close on Wednesday, there was news released into the market surrounding the turbine for Nord Stream 1 and the return of Freeport terminal in the US which offset each other in terms of the impact on prices. The Freeport LNG terminal will be coming back online in October, close to full capacity having taken the US market by surprise with the early return. An independent panel from the hazardous materials body signed off a health and safety license to allow reopening. It was feared the facility would not be operational until December. Gazprom released a statement on telegram stating that they were unable to take delivery of the turbine to be installed in Nord Stream 1 to allow stronger gas flows due to current contractual obligations and inconsistent sanction regimes. This is likely to ensure reduced capacity on NS1. Total UK demand increased this morning and climbed back over 200mcm, with the system opening 5mcm short.
05/08/2022	UK gas prices opened in line with the close on Thursday, with prices favouring a small uplift if anything. UK gas prices were pressured on the prompt to an unexpected outage on the Interconnector with Belgium, restricting flows. Reduced flows ensured gas was kept in Britain reducing Within/Day contracts whilst Zeebrugge gained in value.
08/08/2022	NBP prices have opened higher day on day but have softened since the open. The front month Sep-22 contract is currently pricing at 372.90p/th, with Fridays close at 372.10p/th. The UK system is 4mcm short with total demand at 210mcm, 47mcm above seasonal normal. Both Langeled and UKCS flows have dropped due to maintenance. LNG send out has increased slightly on last week with 8 cargos expected by month end. On demand, the IUK is back up exporting at 54mcm following maintenance. Gas for power demand is also up on low wind generation.
09/08/2022	The NBP has opened lower this morning, despite a short system due to increased demand. Demand reductions and strong storage injections in Europe are pushing prices downwards, with the lack of liquidity on the NBP also contributing to the bearishness. However, the outlook remains bullish given the decrease in Russian flows and lack of LNG, where increasing demand from China could see more LNG cargos head East.
10/08/2022	NBP prices have opened higher and continued to lift throughout the morning, driven by tightness in supply in the UK and Europe. The UK system has been short all week with increased gas for power demand putting an extra strain on supply. Langeled flows are nominating at 51mcm with the 9mcm outage at Sleipner ongoing. LNG send out is at 24mcm with just 6 cargos expected to arrive in the UK by month end. The carbon markets are also offering support to the NBP, with prices up due to increased demand for emissions allowances as gas and coal generation increases to meet additional cooling demand, brought about because of the warmer temperatures. Also, the continent is still dealing with reduced nuclear and coal generation because of issues with the water levels in the riverways, again due to the warmer weather.
11/08/2022

12/08/2022	UK gas prices were bullish on Thursday finding support across the curve. A short system, increased demand and uncertainty over supply continued to lift prompt prices, whilst curve contracts were strengthened by increasing emissions and Oil prices.
	with CCGT demand well above average due to hot temperatures and weak wind generation. This is expected to remain the same on Friday. "
15/08/2022	UK gas prices opened strongly this morning with poor liquidity and Norwegian maintenance strengthening prices. Unplanned outages at Sleipner were resolved over the weekend, but Kollsnes has gone offline for planned maintenance until September 2nd. This is set to take 16mcm/day offline but will mostly impact TTF and continental supplies.
16/08/2022	UK gas prices continued to climb on Tuesday morning, pushing up even further after posting gains late in the session on Monday.
	the TTF front month September-22 posted a record high for a front month contract and gains continue to find support across the front of the curve. "
17/08/2022

	taking 29mcm/day offline until 2ndSeptember with this volume impacting the Dutch market as flows into the Netherlands from Norway are down the most. Today marks the start of maintenance at Bacton Perenco which is set to take 17mcm/day offline on the UK shelf production until Monday 22ndAugust. "
18/08/2022

	6mcm down day on day. The system is 1mcm long and supplies remain consistent with previous day. The outage in Norway continues with Bacton Perenco in the UK shelf still offline until Sunday. Flows from Norway to the UK dropped by 5mcm within day on Wednesday which restricted imports. "

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