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Oil prices edged higher on Tuesday after Israel struck Rafah while negotiations for a ceasefire continued without resolution. - 07/05/2024
Temperatures are expected to remain above seasonal normal, reducing power for heating demand, and limiting upside on day-ahead baseload prices. - 07/05/2024
The U.K. is expected to receive 3 LNG cargoes over the month of May, helping to limit upside on near-curve gas contracts as supply fundamentals start to improve. - 07/05/2024
Wind generation is sitting far below seasonal normal levels, only providing 2.8 GW to the U.K. power stack, adding bullish pressure to day-ahead gas contracts due to an increase in demand. - 07/05/2024
U.K.’s battery pipeline projects have grown two thirds year on year in April, helping to add bearish sentiment to further dated baseload contracts as renewable energy security increases. - 07/05/2024
Day-ahead power contracts are seeing some bullish pressure as a result of the sharp drop in wind generation output forecast over the weekend, with output on Monday forecast at only 2.9GW. - 03/05/2024
Heysham 2-7 nuclear power plant is scheduled to go offline for a planned outage on Monday which will last until the end of May, providing further bullish pressure to day-ahead contracts. - 03/05/2024
UK total terminal receipts remaining steady today at 106mcm/d. Total Norwegian flows to the UK are up 9mcm/d at 39mcm/d today, which is providing some bearish pressure to prompt and near-curve gas contracts. - 03/05/2024
Water levels at the Panama Canal are expected to return to normal levels by mid-June 2024 allowing additional transits, as a recent report shows the drought was directly caused by the effects of El Niño. - 03/05/2024
Brent crude prices have edged up slightly this morning, with the prospect of OPEC+ continuing output cuts providing some bullish pressure; this upside is still being mitigated by easing tensions in the Middle East. - 03/05/2024
Day-ahead contracts are experiencing some bullish pressure today as forecasts show wind generation dropping to 8GW into tomorrow and temperatures drop slightly approaching seasonal levels. - 02/05/2024
Interconnector flows remain high, particularly those from France providing 9% to the UK power stack, helping to limit upside on day-ahead baseload contracts. - 02/05/2024
All gas contracts are seeing some bullish pressure today following news that Ukraine will not allow any flows of Russian gas via its pipeline network once the current transit agreement expires at the end of 2024. - 02/05/2024
Freeport LNG isn't expected to reach it's summer utilisation of near 90% capacity until June at the earliest, with current US LNG exports down month on month adding some bullish sentiment to near-curve gas contracts. - 02/05/2024
Brent crude prices rose slightly today on the expectation that the recent low prices may prompt the US to start replenishing its strategic reserve, putting a temporary floor under prices. - 02/05/2024
Day-ahead contracts are experiencing some bearish pressure on an increase in wind generation output into tomorrow, while temperatures are also set to remain above seasonal levels. - 01/05/2024
The UK is scheduled to receive 2 LNG cargoes over the next week, the first of which is expected to berth UK shores tomorrow, providing some bearish pressure to near-curve contracts. - 01/05/2024
Expectations that a ceasefire between Israel and Hamas could be in sight is also providing bearish pressure to the near-curve with easing geopolitical tensions in the Middle East limiting supply concerns. - 01/05/2024
UK terminal receipts are nominated at 104mcm/d today, up slightly from yesterday, with Norwegian flows to the UK up 6mcm/d today to 25mcm/d overall, providing some bearish pressure to day-ahead contracts - 01/05/2024
Brent crude has fallen for a third consecutive day this morning amid hopes of a ceasefire agreement in the Middle East and on rising crude inventories and production in the US. - 01/05/2024
A sharp decline in wind generation into tomorrow is increasing carbon prices due to an increase in demand for gas-fired generation, adding bullish sentiment to day-ahead baseload contracts. - 30/04/2024
Drax is set to boost its hydro storage levels by 40 MW, taking its total hydro generation capacity to 480 MW, helping to balance the grid as more renewables come online. - 30/04/2024
Norwegian maintenance continues to affect flows to the UK, with flows down 10mcm/d compared to yesterday, adding bullish pressure to day-ahead gas prices. - 30/04/2024
Egypt are set to return to exporting LNG cargoes over the winter months, helping to ease supply concerns for Europe over the coming winter amid the end of the Russian transit deal and thus limiting upside on Winter-24 contracts. - 30/04/2024
Brent Crude is trading sideways due as a potential ceasefire between Israel and Hamas has helped quell market fears of an expanding conflict in the Middle East. - 30/04/2024
Day-ahead contracts could see some continued downside with wind generation set to remain high and temperature set to pick up into tomorrow, providing some bearish pressure on both power and gas. - 29/04/2024
The UK is expected to see two LNG cargoes arrive over the next week or so, while North West Europe has an many more scheduled to arrive, providing some downside to near-curve contracts. - 29/04/2024
The Heysham 2-7 nuclear reactor has scheduled one month of maintenance at the start of May-24, which might reduce any possible downside seen today in the May gas and power contracts. - 29/04/2024
After Freeport LNG train 3 tripped last week, feedgas flows into the facility are indicated to have ramped up over the weekend signalling a possible restart in export production, applying some bearish sentiment to the near-curve. - 29/04/2024
Brent crude prices fell today, erasing the gains from Friday as Israel-Hamas peace talks in Cairo have paused fears of a wider conflict in the Middle East, while US inflation data has further dimmed the prospects of interest rate cuts. - 29/04/2024
Day-ahead energy contracts may feel some relief as we start to see weather fundamentals creep back towards seasonal norms, helping to reduce demand for gas-fired generation. - 26/04/2024
Analysts predict that an oversupply of LNG will likely persist until 2028, driven by the expansion of new capacity and subdued demand in Europe and northern Asia. - 26/04/2024
Norwegian flows to the UK are flat this morning, though maintenance at the Ormen Lange and Oseberg is wrapping up, indicating that we might see further changes to flows throughout the day. - 26/04/2024
Freeport LNG has seen a second at train 3 outage within a fortnight as maintenance continues, applying bullish sentiment to near curve gas contracts. - 26/04/2024
The Brent Crude benchmark is moving sideways this morning after a top US official expressed optimism over economic growth, while supply concerns also continue to linger due to the conflict in the Middle East. - 26/04/2024
Day-ahead energy contracts could see some potential bullish pressure on falling wind generation into tomorrow, boosting demand for gas-fired generation. - 25/04/2024
The UK continues to just have six LNG cargoes confirmed for April and only one cargo for May, minimising our ability to inject into storage which currently sits at 47%. - 25/04/2024
Norwegian flows to the UK are also down again today, currently sitting at 37mcm, due to maintenance starting at the Oseberg facility, leading to the UK gas market opening short. - 25/04/2024
Bottlenecks in the Panama and Suez canals are reshaping LNG flows, with US shipments reaching Europe and Central/South America, while Asian buyers turn to closer producers like Qatar and Australia. - 25/04/2024
The Brent Crude benchmark is trading sideways on signs of retreating fuel demand in the US, contended with widening conflict risk in the key Middle Eastern producing region. - 25/04/2024
Day ahead energy contracts could be supplied with bullish sentiment on a large dip in wind generation into driving demand for gas-fired generation. - 24/04/2024
EU storage levels are around 5% higher in comparison to this time last year, limiting the upside to near-curve gas contracts on less European competition for gas supply. - 24/04/2024
Norwegian flows have seen a large reduction, resulting in flows to the UK totalling at 71mcm due to heavy Norwegian maintenance, which is providing upside sentiment to day-ahead gas contracts. - 24/04/2024
Wind overtook fossil fuels for UK electricity generation over the past two quarters, making it the longest stretch on record that renewable energy has surpassed fossil fuels in UK electricity generation. - 24/04/2024
The Brent crude benchmark is tracking sideways this morning on an unexpected drop in US crude stocks last week, though the market is also keeping a close eye on hostilities in the Middle East. - 24/04/2024
National Grid has commissioned a new substation, enabling 2 GW of low carbon and renewable energy to power around 1.5 million homes. - 23/04/2024
Interconnector flows to the UK are strong this morning, sitting at 12.6%, which is helping to diversify the UK power stack and provide downside to day-ahead contracts. - 23/04/2024
Wind generation is continuing to increase into tomorrow, providing relief to day-ahead energy contracts on less demand for gas-fired generation. - 23/04/2024
The Brent Crude benchmark is trending sideways this morning as investors continue to assess the risk from geopolitical tensions in the Middle East. - 23/04/2024
The Dutch senate has approved a law to permanently close the Groningen gas field following the government’s promise that production will never be resumed in order to limit seismic risk in the region. - 23/04/2024
Wind generation is forecast to see a slight increase into tomorrow, providing some relief to day-ahead energy contracts on less demand for expensive gas-fired generation. - 22/04/2024
The Freeport LNG facility saw the first LNG tanker to dock in 11 days, potentially suggesting a restart to one of the three offline trains in the coming days. - 22/04/2024
The UK is injecting into storage this morning, taking our total to 47%, providing downside to near-curve contracts on less storage injections needed in the summer-cooling period. - 22/04/2024
Day-ahead gas contracts are down this morning as Norwegian flows to the UK are up by 10mcm, totalling at 90mcm, despite maintenance at Emden metering station causing flows to reroute. - 22/04/2024
The Brent crude benchmark has seen downside as the market focus switched to fundamentals after Israel and Iran played down the risk of an escalation of hostilities, following Israel's strike on Iran. - 22/04/2024
The EU could have a surplus of 30-40bcm of long-term contracted LNG imports by 2027 if they continue to cut gas demand by over 200bcm by 2030, this would improve long-term supply security. - 19/04/2024
Wind generation is set to decline below seasonal normal levels, alongside seasonally low temperatures increasing gas for power demand by 40mcm/d, adding bullish pressure to day-ahead baseload contracts. - 19/04/2024
The UK gas system opened up 21mcm oversupplied this morning, helping to offset declining weather fundamentals and limiting upside on day-ahead gas contracts. - 19/04/2024
Despite escalating conflict in the Middle East, Iran's threat to shut the Strait of Hormuz appears to be low probability due to Iran requiring access to the Strait as well, this is helping to add bearish sentiment to near-curve gas prices. - 19/04/2024
Brent Crude has seen some upside this morning after report of an Israeli missile strike in Iran's city of Isfahan, stoking fears of a wider conflict in the Middle East. - 19/04/2024
A sharp increase in wind generation into tomorrow is set to provide 15GW to the UK power stack, reducing the demand for gas-fired generation and adding bearish pressure to day-ahead contracts. - 18/04/2024
There is now 1 LNG cargo scheduled for May for the UK. It is a larger than normal cargo that will help improve the UK's supply security alongside increasing our ability to replenish storage assets - 18/04/2024
Two new Norwegian gas fields are set to come online in summer which are expected to increase Norwegian flows, improving the UK's long-term supply fundamentals and offering bearish sentiment to near-curve gas prices. - 18/04/2024
EU countries have agreed to keep gas demand suppressed by 15% below average levels until next March across the bloc in order to offset any potential supply constraints and to help maintain robust storage levels. - 18/04/2024
Brent Crude is trading sideways after stabilising as the market remains concerned about a possible demand recovery this year and signs that a wider conflict in the Middle East might be avoided. - 18/04/2024
Norwegian flows from Nyhamna are set to come back online today, with flows to the UK already increasing by 4mcm/d compared to yesterday, adding some bearish pressure to day-ahead gas prices. - 17/04/2024
The UK are now back up to 6 LNG cargoes for April, providing some relief to near-curve gas contracts as supply levels increase, also improving our ability to inject into storage. - 17/04/2024
Egypt are set to return to importing LNG and decreasing exports, reducing available supplies to Europe and increasing supply competition, therefore adding some bullish sentiment to closer dated seasonal contracts. - 17/04/2024
Viking Link interconnector has come back online after maintenance last week improving interconnector flows, with European interconnectors providing 13% to the UK, limiting upside on day-ahead baseload prices. - 17/04/2024
The Brent Crude has edged down slightly due to a lower than expected economic growth in China for Q2 and a rise in U.S. commercial stockpiles outweighing supply fears from heightened tensions in the Middle East. - 17/04/2024
The UK is set to have sufficient energy supply over the summer months, with gas demand expected to be 12% lower than last year, which should help to provide bearish sentiment on near-curve baseload prices. - 16/04/2024
Norwegian flows to the UK have increased since yesterday by 21mcm/d, while the UK gas system opened up oversupplied this morning, limiting upside on day-ahead gas contracts. - 16/04/2024
There has been a drop in scheduled LNG cargoes to the UK down to 5 from the previous 6 over April, this is adding some slight bullish pressure to near-curve gas contracts due to fluctuating supply fundamentals. - 16/04/2024
Temperatures are set to decline further below seasonal normal levels, increasing power for heating demand and instilling bullish sentiment in the day-ahead baseload prices. - 16/04/2024
The Brent Crude benchmark has edged up slightly due to a larger than expected growth in China's economy and continuation of the tensions in the Middle East. - 16/04/2024
Near curve energy contracts could see some potential downside as the UK now has six LNG cargoes confirmed for April, helping the UK to inject into storage which is currently sat at 44%. - 15/04/2024
Wind generation is forecast to see a slight dip into tomorrow, providing some potential upside to day-ahead energy contracts on greater demand for gas-fired generation. - 15/04/2024
Near curve energy contracts could see possible downside as the UK continues to inject into storage before the summer cooling demand period begins. - 15/04/2024
Norwegian flows to the UK are currently sat at 62mcm/d, down by 24mcm from last Friday. This can be put down to heavy unplanned maintenance in Norway, applying bullish pressure to day-ahead gas contracts. - 15/04/2024
The Brent Crude benchmark has seen some downside as market participants dial back risk premiums following Iran’s failed weekend attack on Israel. - 15/04/2024
Russian attacks on Ukrainian energy infrastructure are pushing up day ahead gas prices, as a shortfall in Ukrainian domestic generation would require increased power imports, leading to tightening supply fundamentals. - 12/04/2024
Freeport LNG experienced an outage on train 3, reducing output capacity and instilling further bullish sentiment in gas futures on a further reduction in LNG supply. - 12/04/2024
High wind generation and increased nuclear capacity is helping to diversify the UK power stack, adding bearish pressure to day-ahead baseload contracts on reduced demand for gas-fired generation. - 12/04/2024
European LNG prices have hit a 3-month high on heightened supply risks, lower discounts at gas hubs and signs of improving demand, adding bullish pressure to prompt and future contracts. - 12/04/2024
Brent Crude rose slightly as heightened tensions in the Middle East raised the risk of supply disruptions, though a later than expected U.S. interest rates cut dampened some of the bullish sentiment. - 12/04/2024
The UK are now scheduled for 4 LNG cargoes in April, increasing the likelihood of storage injections and helping to limit upside on near-curve gas contracts as supply levels improve. - 11/04/2024
Azerbaijan is set to increase gas exports to Europe by 17% up to 14bcm a year by 2026, improving supply security as the EU are set to fully ban Russian gas from 2027. - 11/04/2024
Norwegian flows to the UK has been reduced this morning, down 12mcm/d compared to yesterday adding some bullish pressure to day-ahead gas prices. - 11/04/2024
European storage levels are on track to be 90% full by the middle of August, helping to reduce gas procurement risk and competition for the UK, limiting upside on Winter-24 contracts. - 11/04/2024
On Tuesday the naval commander of Iran’s revolutionary guard’s warned Tehran could shut the Strait of Hormuz if required. The key trade route of the strait of Hormuz could see oil/gas prices jump significantly if this were to happen. - 11/04/2024
Temperatures are set to climb to well above seasonal average, reducing the demand for gas-fired generation and increasing the likelihood of storage injections, therefore applying bearish sentiment to prompt contracts. - 10/04/2024
The UK is now scheduled to receive a further LNG cargo over the course of April, which marks an improvement on yesterday, though LNG imports remain 93% down year-on-year - 10/04/2024
French interconnector flows remain steady alongside high wind generation which is helping to diversify the UK power stack, offering bearish pressure to the day-ahead baseload. - 10/04/2024
Global LNG supply is expected to fall 4% this month compared to last month due to reduced supplies from Qatar, Russia and the US. This is instilling bullish sentiment in near-curve contracts on tighter supply fundamentals. - 10/04/2024
Brent Crude has seen some slight gains this morning on lingering concerns over supply disruptions in the Middle East offsetting a bigger-than-expected increase in U.S. crude inventories. - 10/04/2024
Torness 2 nuclear reactor is expected back online early, increasing the UK’s nuclear capacity to 91% and adding some bearish sentiment to prompt baseload contracts. - 09/04/2024
The UK is now down to 1 LNG cargo for April, a drop from the 3 previously scheduled; this is applying bullish pressure to near-curve contracts due to low supply fundamentals. - 09/04/2024
European gas demand is seasonally low, amid strong renewables and diminished heating demand, helping to offset low LNG supply and limiting upside on day-ahead gas contracts. - 09/04/2024
Concerns over stress corrosion issues on some French nuclear reactors could persist until the end of 2025, adding some bullish sentiment to further-dated baseload contracts over supply concerns. - 09/04/2024
Brent Crude has edged up this morning off the back of diminished hopes of a ceasefire talk between Israel and Hamas have ended, increasing concerns that the lingering conflict could potentially disrupt supply. - 09/04/2024
Norwegian flows to the UK have fallen due to an unplanned outage at Asgard, meaning the UK gas system has opened up short this morning, adding bullish sentiment to day ahead gas prices. - 08/04/2024
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