The outlook for gas was little changed on Tuesday, with cold temperatures expected to continue over the coming weeks and an on-going recovery on the oil market, which both contributed to gains across the curve.
News of a national lockdown was the main market driver yesterday, pushing prices higher due to an expected drop in demand for fuel this month. Cold temperatures also lifted LDZ demand, while weaker wind generation is expected to increase reliance on gas-fired power.
Gas prices climbed higher during yesterday’s session on the back of reduced LNG send-outs and a cold weather forecast for January. A rise in oil and carbon also contributed to gains on longer dated contracts.