Weekly Price Update Report - Week 20, 2018
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Energy Market ReportsWeekly Price Update Report - Week 20, 2018

Weekly Price Update Report - Week 20, 2018

Chris Hurcombe

by Chris Hurcombe 14 May 2018

Report Summary:

The Trump effect


NBP Natural Gas & GB Power Market Movement

Prices rose last week despite lower consumption.  The oil, coal and carbon price gained 3.01%, 3.85% and 12.48% respectively.  Coal prices rose supported by a rising oil price after the U.S. president Donald Trump said on Tuesday that the United States was withdrawing from the 2015 Iranian nuclear deal negotiated by the previous Obama administration. The oil markets have since retreated (since Friday 11th May) as it looks likely that U.S. allies would continue to push to maintain the deal with Iran, which could keep that country's crude exports on global markets.  Concerns also arose from Venezuela's crude production which slipped further and further drawdowns in U.S crude inventories. As a result of easing demand from the household sector and excess supplies, total UK gas stocks improved 30.94%. Despite several cargo arrivals in April, LNG send-out remained lower week-on week.  

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