Last week began with bearishness across products on the NBP natural gas market, due to a seasonal weather forecast released by The Weather Company, indicating Britain would be warmer than usual for the rest of Winter. However, Tuesday’s forecast contradicted the outlooks aforementioned on Monday, suggesting that the UK would experience colder temperatures in February. Unsurprisingly, this bought back some bullish momentum which proved the influence that temperature forecasts have had during this winter period. Demand was met comfortably, which meant the full effect of the new and revised weather forecast did not have too much significance, with the overall effect being an increase in bearish momentum.
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