Market Insight

DAILY MARKET REPORT – 21/06/2023 Another bullish session mostly driven by technical levels being hit, although not helped by a lack of renewable generation meaning more gas for power requirement. No real change in the outlook, which appears nervous in the short term especially with Norwegian field outages, but a…

DAILY MARKET REPORT – 20/06/2023 A bearish start to the week, reaching around 10% down to Fridays settlement early on, was slowly eroded throughout the rest of the session yesterday. It seems the market is still trying to find its comfort level, wanting to show some bearish movement but at…

DAILY MARKET REPORT – 19/06/2023 A bearish session to end the week after some extremely volatile sessions last week, mostly caused by fear of extended Norwegian gas field outages. A bearish start to this week also as contracts trade down by almost 10% in the first trades on the front…

DAILY MARKET REPORT – 16/06/2023 In one of the most bizarre sessions of any recent period, yesterday saw traders scramble for reasons as to why gas prices were on the rise – touching as much as +30% to the previous day at one point – before retreating, almost fully, by…

DAILY MARKET REPORT – 15/06/2023 Once again a bearish looking morning turned into a bullish session come the afternoon and we now see the UK gas front month heading towards £1/therm, almost doubling in value from the start of the month. Reports relating to the outcome of the investigation into…

DAILY MARKET REPORT – 14/06/2023 Markets showed a bearish morning before turning aggressively to the upside after it was announced by Gassco AS that major gas processing plant, Nyhamna, will undergo an extended planned outage by around a month longer than originally planned due to cooling service issues according to operator …

DAILY MARKET REPORT – 13/06/2023 A mixed picture in yesterdays session as at one point it looked like we had a bearish session on our hands to get the week started, before things settled down in the afternoon to show a small discount on prompt contracts but not much movement…

DAILY MARKET REPORT – 12/06/2023 A very bullish end to the week as hot weather pushes across Europe and a continued low flow of LNG for the weeks ahead. That picture doesn’t look like its changing any time soon as so prices may hold around a new level after enjoying…

DAILY MARKET REPORT – 09/06/2023 Another session of small upside across the board, as we wait on the return to service of Hammerfest LNG, watch general LNG cargoes towards the UK fall to just one over the coming weeks and prepare for planned Norwegian gas field maintenance to take hold.