Weekly Price Update Report - Week 11, 2018
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Energy Market ReportsWeekly Price Update Report - Week 11, 2018

Weekly Price Update Report - Week 11, 2018

Angie Palmer

by Angie Palmer 12 March 2018

Report Summary:

More bad news for prices

week-on-week-changes

NBP Natural Gas & GB Power Market Movement

Lower and depleting UK gas storage stocks, reduced LNG cargoes and expected cold weather in late March-2018 resulted in prices rises during the week.  The front month Brent Crude contract rose alongside, boosted by strong employment data in the US and the continued unexpected shutdown of a Libyan oil field (El Feel). Oil settled the week at $65.49 per barrel compared to $64.37 the previous week.

Domestic consumption was considerably reduced during the week, by 35.35% but the colder weather outlook for late March offset the benefit of easing and reduced demand for energy.  The coal price fell week-on-week on higher European inventories.  By Friday, all forward contracts closed the week higher, with the April-18 annual electricity and gas contracts settling +3.28% and +4.97% respectively.  The corresponding October-18 contracts settled +2.82% and +3.05% respectively. 

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