Weekly Price Update Report - Week 38, 2018
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Energy Market ReportsWeekly Price Update Report - Week 38, 2018

Weekly Price Update Report - Week 38, 2018

Ian Mckenna

by Ian Mckenna 17 September 2018

Report Summary:

3-days of price falls


NBP Natural Gas & GB Power Market Movement

Prices rose on Monday due to undersupply with lower gas flows from Norway contributing and a rising oil price.  Prices eased back on Tuesday with improved supply and a softer coal & carbon market being bearish factors.  Once again, oversupply was the main driver for lower prices on Wednesday which outweighed the risk of forecasted lower wind power for the next working day.  However the oil price continued to surge forwards on upcoming Iranian sanctions and reduced US stocks.  Prices continued to reduce on Thursday as gas flows from Norway continued to rise. The Carbon price fell owing to improved forecasts of average temperatures and renewable outputs on the continent.  Demand from the household sector ended the week lower +4.94%; total gas stocks fell -2.56%; the oil price concluded the week +1.64%  when compared to the previous Friday.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. 

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