Weekly Price Update Report - Week 2, 2018
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Energy Market ReportsWeekly Price Update Report - Week 2, 2018

Weekly Price Update Report - Week 2, 2018

Nathaniel Taylor

by Nathaniel Taylor 07 January 2018

Report Summary:

Increasing pressure on prices


NBP Natural Gas & GB Power Market Movement

The markets were mixed on Tuesday with the full return of the Forties Pipeline and a strong performing GB Pound incurring price falls for some contracts. Longer dated contracts closed higher however tracking the stronger oil and coal market. Milder temperatures and strong wind power dragged the near market down on Wednesday.

Once again contracts further along the price curve rose tracking the oil which attained high $67s per barrel though the sentiment in this commodity remained that high US and Russian output may undermine ongoing efforts led by OPEC to tighten the market. Prices were mixed intraday on Thursday with low wind power and consequential higher gas use from the power generation sector creating undersupply. The outlook for much cooler weather was also a bullish factor with temperatures expected to drop from 05th January to the 17th January. By Friday, the April-18 annual electricity and gas products closed lower by 0.51% and 0.61% respectively. These products expire at the end of March 2018.

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