Commodities
UK Gas Prices Drop Amid Storage Concerns
UK gas prices dropped by 2.1% in short-term trading on Thursday, according to data from TechStock². The day-ahead gas price at the National Balancing Point (NBP) fell to 176.80 pence per therm.
The Winter 2027 contract, however, saw a 2.5% increase, indicating that current supply assurance has yet to alleviate storage concerns for upcoming winters.
The divergence in prices between short-term and longer-dated contracts suggests that the market is still sensitive to limited European stockpiles and competition for liquefied natural gas (LNG) supplies.
Norwegian nominations reached 279.3 million cubic metres a day, but output was reduced by six million cubic metres due to a process issue at Kollsnes.