Weekly Price Update Report - Week 15, 2018
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Energy Market ReportsWeekly Price Update Report - Week 15, 2018

Weekly Price Update Report - Week 15, 2018

Ian Mckenna

by Ian Mckenna 09 April 2018

Report Summary:

Things start to improve

week-on-week-changes

NBP Natural Gas & GB Power Market Movement

As Monday was a bank holiday there is no commentary available for this market day.  Markets declined on Tuesday  on mild weather forecast, ample supplies and lower demand.  The summer gas season started on 1st April when there is typically lower demand for heating. Liquefied natural gas (LNG) supplies were strong with four tankers scheduled for Britain in the coming week. On Wednesday, renewed expectations of colder weather in the short-term resulted in gains for some nearer energy contracts, whilst contracts for winter 2018 and beyond fell, tracking the bearish oil and coal markets. 

At the start of the day on Thursday, markets opened lower with renewed  weather forecasts pointing towards warmer weather, especially for the week ahead.  Strong LNG send out from both the South Hook and Dragon terminals was another signal for lower wholesale pricing.  Gas demand from power generators was also lower.  Oil closed the week lower with the front month price attaining $67s on Tuesday and Friday.  By Friday, the October 18 annual electricity & gas products closed down week-on-week, -0.76% and -0.87% respectively.  The nearest season is now Winter-18, superceding Summer-18 which has now expired.

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