Weekly Price Update Report - Week 48
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Energy Market ReportsWeekly Price Update Report - Week 48

Weekly Price Update Report - Week 48

Jamie Flanagan

by Jamie Flanagan 28 November 2017

Report Summary:

Gas prices hit a 10-month peak

week-on-week-changes

NBP Natural Gas & GB Power Market Movement

Markets rose last week on lower imports from Norway and multiple potential unplanned outages affecting UK supply also. Weather forecasts were revised colder, with demand expected up sharply from week commencing 27th November.

Higher spot prices mid-week propped prices up although a more stable LNG outlook (with 2 to 3 cargoes expected at the South Hook terminal in month of December) helped to limit the upside.  Having fallen in the previous week, the Coal price gained 4.09%: despite reduced Indian buying and rise in production in China, there were and remains supply issues in Australia.  The oil price regained during the week as data from the EIA confirmed falling week-on-week stockpiles.  

The April -18 annual electricity and gas contracts ended the week higher when compared to the previous Friday (17/11) by 1.36% and 1.96% respectively.  Other longer dated contracts, for 2019 and beyond, moved in the same direction but rises were less stark in comparison.

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