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Highlights
- For the first time since June, gas prices have gone down to less than €100 per megawatt-hour.
- With the anticipations of winter months being milder than expected, the overall demand for gas has eased.
With the winters looming, the shortage of supplies was one of the major causes of worry for suppliers and consumers. However, now that seems to have subsided with a huge number of liquefied natural gas cargoes coming to ports across the continent.
For the first time since June, the gas prices have gone down to less than €100 per megawatt-hour. Dipping by 11.8% and 14.2%, respectively, the UK and Europe benchmarks have been dragged down by positive improvements across the continent.
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With the anticipations of winter months being milder than expected, the overall demand for gas has eased.
On Monday, the UK prices dropped to £1.77 per therm, with Dutch prices sliding to €97.70 per megawatt-hour. Over the upcoming days, the temperature in the UK temperatures may hit a peak of 21 degrees, with darkness looming over the country and the clocks set to go back this Sunday.
According to the oil and gas research head at Investec, Nathan Piper, the downward pressure faced by UK gas prices due to the mild winter predictions may remain until the country witnesses more regular cold winter months. This may result in the demand for gas for heating purposes going up.
Ahead of the rough winter months, UK investors can keep an eye on the following oil and gas stocks trading on the London Stock Exchange.
Energean plc (LON: ENOG)
The YTD (year-to-date) return of the global hydrocarbon produced focused on natural gas, Energean plc, stands at 55.20% as of 25 October, while its return on a yearly basis stands at 50.54%. ENOG shares were seeing a dip of 1.70% on Tuesday at around 11:35 AM (GMT+1), trading at GBX 1,327.
The FTSE250-listed firm’s market capitalisation at the time of writing stands at £2,403.55 million, with an EPS (earning per share) of -0.54. With a turnover (on book) of £418,925.62, the company’s P/E ratio currently lies at 47.71.
Shell plc (LON: SHEL)
The YTD return of the prominent global oil and gas producing business, Shell plc, stands at 46.62% as of 25 October, while its return on a yearly basis stands at 32.23%. SHEL shares were seeing a dip of 1.34% on Tuesday at around 11:40 AM (GMT+1), trading at GBX 2,313.50.
The FTSE100-listed firm’s market capitalisation at the time of writing stands at £167,012.35 million, with an EPS of 2.59. With a turnover (on book) of £32,226,060.42, the company’s P/E ratio currently lies at 5.58.
BP plc (LON: BP.)
The YTD return of the oil and gas supermajor, BP plc, stands at 46.62% as of 25 October, while its return on a yearly basis stands at 41.20%. BP. shares were seeing a dip of 0.68% on Tuesday at around 11:45 AM (GMT+1), trading at GBX 466.80.
The FTSE100-listed firm’s market capitalisation at the time of writing stands at £86,618.48 million, with an EPS of 0.38. The business currently has a turnover (on book) of £28,844,148.31.
