Weekly Price Update Report - Week 45
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Energy Market ReportsWeekly Price Update Report - Week 45

Weekly Price Update Report - Week 45

Angie Palmer

by Angie Palmer 08 November 2017

Report Summary:

Topsy turvy week for markets


NBP Natural Gas & GB Power Market Movement

Prices adjusted down today on Monday on lower demand and a rise in LNG send out. Flows from the South Hook rose to 14 mcm, an attempt to free up storage space for a tanker unloading at the terminal and another scheduled to arrive later in the week.  Prices went on to rise the next two working days, on Tuesday and Wednesday with undersupply driving, boosted by a reduction in Norwegian gas with Ormen Lange shutting down.  Ongoing problems at Bacton Seal also contributed despite an expected returned.  Coal and Oil both traded higher also. 

Falling temperatures and lower wind power output were the main causes behind the rises on Thursday despite higher Norwegian gas flows through the Langeled gas line and the UK gas network being adequately supplied to meet national demand. By Friday, the April 18 annual electricity contract rose 0.11% but the equivalent gas product fell 0.30%.  The oil price ended the week higher overall by 2.77%, a gain of $1.63 per barrel when compared to the previous Friday. Coal gained 0.94%. 

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