Weekly Price Update Report - Week 48
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Energy Market ReportsWeekly Price Update Report - Week 48

Weekly Price Update Report - Week 48

Kiran Jutti

by Kiran Jutti 29 November 2016

Report Summary:

Energy market volatility continues


NBP Natural Gas & GB Power Market Movement

The +19% increase in household demand offset the benefit of stronger supply, particularly from the UK-Belgium Interconnector and BBL gas line which connects the UK to the Dutch gas market. Improved imports of gas flows to the UK were a direct result of warmer weather in NW Europe (compared to the UK). 

Strong week on week rises failed to materialise in the Oil market due to a strengthening US dollar in parts and continued doubts that OPEC would agree to a large enough output cut to help reduce the global supply overhang. 

Trading in the US was also illiquid after the US Thanksgiving holiday leading up to the weekend keeping traders from place bets.  The Coal price rose $1.8 per tonne as a cold November hit NE Asia, raising demand strongly there with snow falling in Tokyo for the first time in >50 years. Further dated annual contracts ended the week higher as a result.

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