Gas prices displayed further losses yesterday, with increases on coal, carbon and power markets having little impact. LNG send-outs remained strong with 4 more deliveries expected to dock in the UK over the weekend, while oil eased down in the afternoon, weighing on some far-curve contracts.
Gas prices continued to move down on Wednesday as traders left their positions as the winter period comes to a close. Storages are close to capacity and flows into the UK are strong. Meanwhile, oil was the only market to increase during a very bearish session.
Gas prices displayed additional losses during Tuesday’s session as overall fundamentals remained bearish. Small increases on coal and oil markets offered some support to the far-curve, while the Pound dropped later in the day.
Gas prices weakened on Monday with an expected rise in temperatures, healthy supply and a stronger wind generation forecast weighing on the front of the curve. Meanwhile, fuel markets offered little support and movement at the back of the curve was also bearish.
Gas prices were little changed on Friday, both on UK and European markets. Supply levels remained comfortable and milder weather should return to the UK in the second half of the month. Meanwhile, strong renewables should reduce reliance on gas-fired power.