Weekly Price Update Report - Week 27, 2018
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Energy Market ReportsWeekly Price Update Report - Week 27, 2018

Weekly Price Update Report - Week 27, 2018

Chris Hurcombe

by Chris Hurcombe 02 July 2018

Report Summary:

Another volatile week hits home

week-on-week-changes

NBP Natural Gas & GB Power Market Movement

On Monday markets opened mixed: continued forecasts for warmer weather reduced demand for gas but low wind power constrained the benefit of reduced heating demand.  The gas market was slightly oversupplied which added some bearish momentum. On Tuesday markets were once again mixed, the gas system was oversupplied, UK gas production was slightly higher and consumption was slightly lower than the previous day.  However Brent oil traded up to $75.  Markets rose on Wednesday on a decline in Norwegian flows.  Low wind power output prevailed and the Oil price continued to gain with the US telling oil importing countries to cut their Iranian crude imports to zero and on Canadian supply disruptions.  Markets rose on Thursday as the Interconnector reopened following a two-week maintenance and as the Oil price advanced on the news of Canadian outages for the month of July.  The electricity and gas October-18 annual price indices closed +2.47% and +3.68% respectively.

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