Market continues to trade within a narrow range
On Tuesday, NBP gas prices experienced a slight retracement, with minor reductions observed across the near-curve. The market continued to fluctuate within a narrow range, reflecting the current state of uncertainty.
European gas hubs advanced in a rangebound manner, influenced by the slowing developments in global geopolitics and a subdued demand outlook for the near term.
According to the latest run of our 14-day model, demand is projected to remain slightly below seasonal norms until at least April 29th.
This could help to direct flows towards storage injections, thereby minimizing the impact of an upcoming round of Norwegian planned maintenance scheduled to commence on Saturday 26th.
Market participants are closely monitoring updates regarding tariffs on the UK, EU, and other markets over the next few weeks. These developments could introduce further volatility into both financial and energy markets.
As of this morning, gas prices have remained relatively stable, with key contracts being offered in line with their previous settlements at the time of writing.
If you want to see more information on the wholesale market trends subscribe to our weekly report here.
Price commentary courtesy of Crown Gas and Power 