Europe & Russia: Price trends
Prices are likely to be steady over the coming months before rising ahead of winter.
The NBP month-ahead averaged around 35 p/th over the first half of July. Supply issues and strong demand have continued to support prices, keeping them above the lows seen earlier this year. The UK’s requirements for storage gas have weakened due to the extended closure of Rough, but strong offtake from the power sector has supported demand. As the country enters the peak of summer, strong demand for gas-fired power is expected to continue.