Russia has failed to nominate much volume for November, none via Ukraine, this has sent a bullish signal to the market.

BUT all contracts have stayed below recent highs so this does show that we may have peaked. There are still many risks but as the weather is forecasted milder and there is improved wind output, we could potentially see further easing of prices. It is too early to be seeing a downtrend, but we expect most contracts to trade below recent highs with the potential for a larger downtrend correction if weather conditions remain favorable.

CNG have announced they will be exiting the wholesale energy market by the end of November. And with this a fresh wave of energy firms may go bust within a week due to the gas shipper CNG stopping business them. These 18 suppliers will now need to search for an alternative Gas shipper. Shippers play an important role within the industry given that suppliers cannot sell gas to customers without them. Suppliers who had bought Gas from CNG will now need to buy Gas at the current market rate which a lot of suppliers will struggle to do.