Market Insights 30/04/2025

DAILY MARKET REPORT – 30/04/2025

A fairly calm day once again seen yesterday as the front month contracts came to a close with a small further loss come the end of the session and today we have a new front month contract quoted.

With no change in the underlying fundamentals, eyes will remain focussed on what developments are made in the two main topics driven by President Trump over the coming days – namely any resolution to the peace deal he is brokering and of course his global tariffs charge. Both of these topics have the potential to further unsettle the energy markets.

Yesterday saw the TTF Front Month contract settle at €31.96 (from €32.40) and the NBP Front Month contract at 77.11p (from 78.27p).

No unplanned outage this morning and we see a Norwegian flow nomination level at 314mcm (307). EU gas storage showing at 38.95% (38.69%) full as per AGSI+. LNG vessels due to arrive in UK the next couple of weeks is 4 (4).

This morning we see the Front Month TTF contract at €32, NO CHANGE to the previous settlement.

A quick check on some key contracts (rounded to nearest whole):
Curve TTF Front Month €32, Front Season €33 (vs €32 and €33)
Curve NBP Front Month 77p, Front Season 86p (vs 78p and 87p)
UK Gas NBP spot 78p (from 77p)
UK Power Base spot £79 (from £80)

UK power prices show the UK Front Month Baseload contract at £71 (£72) and Front Season at £80 (£80).

In other areas of the market Brent Oil is at $64 ($66) and EUAs are at €65 (€65). Henry Hub is at $3.39 ($3.34) and JKM is at $11.22 ($11.28) with TTF Equiv of $10.69 ($10.82).

Numbers in brackets show the previous reports value.