Weekly Price Update Report - Week 43
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Energy Market ReportsWeekly Price Update Report - Week 43

Weekly Price Update Report - Week 43

Jamie Flanagan

by Jamie Flanagan 24 October 2017

Report Summary:

Improved supply, lowers prices


NBP Natural Gas & GB Power Market Movement

Higher gas flows from Norway and lower exports to Ireland helped to offset the risk of a 19.18% week-on-week rise in gas demand from the household sector.  Wind power rose from the middle of the week, more than doubling on Thursday and Friday which helped to reduce demand for gas for power generation.

If South Hook receives the expected three LNG cargoes in late October/early November, then this terminal will need to increase the send-out rate which improved somewhat the LNG supply outlook and translated into lower pricing particularly at the end of the week. 

OPEC crude oil production is estimated to have increased slightly with Iraq and Nigeria contributing to the  overall rise in OPEC production. The oil price remained in $57s by the end of the week having diverged in trend throughout the week. 

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