Weekly Price Update Report - Week 36, 2018
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Energy Market ReportsWeekly Price Update Report - Week 36, 2018

Weekly Price Update Report - Week 36, 2018

Chris Hurcombe

by Chris Hurcombe 03 September 2018

Report Summary:

Energy prices skyrocket


NBP Natural Gas & GB Power Market Movement

Monday was bank holiday and therefore there was no market. Prices rose on Tuesday on undersupply and maintenance on the Norwegian gas shelf. Markets opened lower on Wednesday but recovered during the day despite flows from Norway being higher and a planned strike at three of Total's North Sea fields being suspended. 

The rises were a consequence of forecasts for exports via the Interconnector remaining high in the short term.  Peak wind generation was also  expected to halve the next working day and the oil price gained intraday.  Prices stabilised on Thursday as forecasts  for gas demand pointed lower. Demand from the household sector ended the week lower -45.5%; total gas stocks fell further -4.14%; the oil price concluded the week +2.11%  when compared to the previous Friday.

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