Weekly Price Update Report - Week 16, 2018
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Energy Market ReportsWeekly Price Update Report - Week 16, 2018

Weekly Price Update Report - Week 16, 2018

Angie Palmer

by Angie Palmer 16 April 2018

Report Summary:

Less wind unsettled the market


NBP Natural Gas & GB Power Market Movement

Prices  moved higher during the week. Demand from the domestic sector, although lower than the previous working week, was higher than expected and demand from power generators for gas burn rose also due to lower wind power production. There were outages on the Norwegian gas shelf which impeded import flows to the UK, particularly in the former part of the week.

The oil price rose $5.47 per barrel settling at $72.58 or +8.15%, buoyed by geopolitical tensions  over Syria.   Limiting some of the upside was a strong(er) LNG send out with a number of cargo arrivals to the UK so far this month at the South Hook and Dragon receiving terminals. Natural gas produced from LNG supply flowed +23% higher during the week.  By Friday, the October 18 annual electricity & gas products closed higher week-on-week, +4.30% and +5.24% respectively.  The nearest season is now Winter-18, superceding Summer-18 which has now expired.

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