Market Insight
Tony Jordan
30 June 2023

Market Insights 30/06/2023


A small upward movement in yesterdays session as the front month contract comes to end.

Yesterday saw the TTF August contract settle at €35.34 (from €34.32) and the NBP August contract at 87.34p (from 84.98p).

Norne remains on unplanned outage this morning and we see a flow level at 234mcm from Norway (229). Russian nominations showing Velke Kapusany at 36.8mcm (36.8) and Sudzha at 41.7mcm (41.7). Nord Stream remains unavailable. Gas storage showing at 76.86% full as per AGSI+. LNG vessels due to arrive in UK next couple of weeks is 1.

This morning we see the August TTF contract at €35, NO CHANGE to the previous settlement.

A quick check on some key contracts (rounded to nearest whole):
Curve TTF August €35, Winter €50 (vs €35 and €50)
Curve NBP August 85p, Winter 131p (vs 85p and 130p)
UK Gas NBP spot 85p (from 85p).
UK Power DA £86 (from £96).

UK power prices show the UK July Baseload contract at £90 (£89) and Winter at £128 (£127).

In other areas of the market Brent Oil is at $74 ($74) and EUAs are at €88 (€88). Henry Hub is at $2.70 ($2.67) and JKM is at $12.12 ($12.02) with TTF Equiv of $11.10 ($10.91).

Numbers in brackets show the previous reports value.