Weekly Price Update Report - Week 24, 2018
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Energy Market ReportsWeekly Price Update Report - Week 24, 2018

Weekly Price Update Report - Week 24, 2018

Chris Hurcombe

by Chris Hurcombe 11 June 2018

Report Summary:

Within-day volatility returns again


NBP Natural Gas & GB Power Market Movement

Having fallen the previous week, most curve contracts rose during the week settling slightly higher overall by the end of the week.  Several gas producing facilities started planned maintenance work including the St Fergus gas terminal in Scotland, the Teesside processing plant and the Bacton Seal terminal.  Lower wind power output resulted in an increase in gas demand from gas-fired power plants. 

Bullish coal, which competes with gas for power generation, also helped contribute to price rises.  The supply outlook for Liquefied Natural Gas improved however with cargo arrivals during the week: total LNG send-out rose to 8mcm on Friday.   The oil price recovered on some market days on concerns about a plunge in exports from Venezuela, although a continued surge in US production kept gains in this commodity at bay overall.  The electricity and gas October-18 annual price indices closed +0.02% and -0.44% respectively.

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