The UK gas system is forecast below 5mcm short.

That’s because outages at the Rough gas platform have been extended until next week.

Sam Hill from the Optimisation Desk said: “Demand is also higher than expected on the tail end of the recent cold patch. Temperatures are forecast to pick up throughout the week with potential highs of 15°C which could ease LDZ [local distribution zone] demand.”

The Langeled pipeline is nominating at 46mcm.

Mr Hill added: “The Dutch BBL interconnector is exporting towards Belgium this morning with higher demand on the continent. This again is driving shortness in supply.”

On the power system, the peak margin is expected to be under 13GW.

Wind is generating 4GW while gas-fired generation around is producing 15GW providing 44% of the mix.

Mr Hill went on: “Oil has retreated ahead of US crude stockpile data out tomorrow. US government data has forecast rising stockpiles which will keep supplies at their highest level in more than eight decades, the continuing supply glut has weighed on market sentiment seeing prices now around $46/bbl ($30.8/bbl).”