Global Markets

Unexpected supply tightness pushes up prices in the UK

An unexpected outage at the SEGAL pipeline has hit exports from Norway, pushing up the NBP price An unexpected outage at the SEGAL pipeline has hit exports from Norway, pushing up the NBP price.
By Catriona Scott 28 June 2017 0 26557

The NBP day-ahead was up to 37.6 p/th on Tuesday. Problems with supply supported the rise despite demand being below seasonal norms since the start of the week.

An unexpected outage at the SEGAL pipeline has hit exports from Norway. The outage started last week and was initially expected to be resolved within 24 hours, but the pipeline is still experiencing technical problems. The reduction in supply has helped to tighten the market and support prices. The NBP was pushed up by roughly 2 p/th over...