Market Insight

DAILY MARKET REPORT – 24/05/2024The market continues to show to the upside in yesterdays session as we push to new recent highs each day.Today Ofgem have confirmed the upcoming domestic price cap, effective 1st July, to be £1,568 for their ‘typical’ dual fuel customer. As expected, standing charges are unchanged…

DAILY MARKET REPORT – 23/05/2024Further upside seen in yesterdays market, as clouded news emerged relating to a court case that could potentially see gas flows reduced towards Europe.Austrias OMV put out a rather cryptic message that the market has taken to relate to Russias Gazprom Export and it’s…

DAILY MARKET REPORT – 22/05/2024More upward movement seen yesterday, with the UK winter gas contract now at £1/therm having crept up from around 80p/therm just six weeks ago.On the positive side, some of the Norwegian assets are back online which has increased the output considerably compared to yesterday.Yesterday saw the…

DAILY MARKET REPORT – 21/05/2024An upwards movement in yesterdays session as the market prepared for planned maintenance of the Norwegian assets.Many of those assets are now largely or completely offline which has a large impact on flow levels for the days ahead – today almost half of yesterdays flow.These are…

DAILY MARKET REPORT – 20/05/2024An upward end to the week, albeit small rises each day, has pushed the overall trend into a bit of a bullish mode for the time being.A few newly listed LNG cargoes heading towards the UK will be timely as some of the Norwegian fields undergo…

DAILY MARKET REPORT – 17/05/2024A small uptick seen in yesterdays session as the market stays generally flat of late with little to push it in either direction.Yesterday was also the final wholesale calculation window of the upcoming Ofgem price cap effective 1st July, to be confirmed on 24th May,…

DAILY MARKET REPORT – 16/05/2024A flat session yesterday, which follows a similar one seen on Monday, as the market has no clear driver to head in either direction.EU gas stocks look healthy at two-thirds full. At the current injection rate it would reach the mandated levels of at least 90% long…

DAILY MARKET REPORT – 15/05/2024No real drive seen in yesterdays session, with very small movements to the upside on the front month contracts.All of the fundamentals remain unchanged with the same underlying nerves just sat there.This week sees the calculation period for the upcoming Ofgem price cap, effective 1st…

DAILY MARKET REPORT – 14/05/2024A soft start to the week as strong flow levels and warm weather help to maintain a calm outlook.Some near term price levels are close to psychological levels (round numbers, or nearest 10 etc) which may see some reactions in either direction in an otherwise unexciting…