Weekly Price Update Report - Week 23, 2018
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Energy Market ReportsWeekly Price Update Report - Week 23, 2018

Weekly Price Update Report - Week 23, 2018

Ian Mckenna

by Ian Mckenna 04 June 2018

Report Summary:

Signs at last of prices lowering

week-on-week-changes

NBP Natural Gas & GB Power Market Movement

Prices fell during the week with a 21.14% decrease in consumption offsetting the risk of lower Norwegian gas imports to the UK, lower UKCS gas supply and gradual falling wind power. Alongside, fresh Liquefied Natural Gas deliveries boosted the outlook for UK gas supplies with two expected cargo arrivals from Trinidad and Algeria.  Forecasts for considerably warmer weather over the oncoming weekend (Saturday 2nd and Sunday 3rd June) was also another bearish force for prices, particularly towards the end of the working week. 

The oil price remained in the $76 per barrel range, falling in the initial part of the week and then regaining in the latter part, ending 0.46% higher overall week on-week. All annual price indices fell week-on-week, -1.29% and -1.39% for the October 18 annual electricity and gas contracts respectively.

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