Demand-side support prompts NBP rise

Colder temperatures saw the NBP day-ahead rise above 30 p/th ($4.20/MMBtu) again this week. After dipping to 29 p/th at the end of last week, the contract rose to nearly 31 p/th on Tuesday – its highest level since late January. Cooler weather has supported demand and pushed UK consumption above seasonal norms, a trend that looks set to continue. Cold temperatures hit much of the UK on Wednesday and are expected to help boost gas demand to roughly 18% above the average for the time of year, according to the outlook from National Grid.