Energy Market Analysis - 09-08-2016
9th August 2016 | Posted by: Daniel Birkett | Market Analysis
Gas prices decreased on Monday despite on-going maintenance at facilities which led to a decrease in flows in the UK. However, the overall supply/ demand outlook was rather comfortable which helped near-curve contracts move down, although losses further out were restricted by rising Brent.
Energy Market Analysis - 08-08-2016
8th August 2016 | Posted by: Daniel Birkett | Market Analysis
The UK gas system was close to balance on Friday as weaker UKCS production was offset by improved Norwegian flows and a drop in exports via the IUK pipeline. This improved supply picture helped to apply downward pressure across the near-curve, although losses further out were limited by rising Brent.
Energy Market Analysis - 05-08-2016
5th August 2016 | Posted by: Daniel Birkett | Market Analysis
Yesterday, Centrica announced the withdrawal rate of the Rough storage unit which is down to just 4 wells (as reported here). It was revealed that the minimum rate of withdrawal over the winter period would be 4mcm, with a maximum of 6-7mcm. However, this announcement had little impact on yesterday’s prices which were pushed higher by weak supply levels and stronger Brent.
Energy Market Analysis - 04-08-2016
4th August 2016 | Posted by: Daniel Birkett | Market Analysis
Demand for gas-fired power generation fell yesterday as wind power rose significantly, providing downward pressure on the near-curve. Prompt contracts moved down despite a drop in Norwegian flows and the start of maintenance at UKCS facilities, while a rebound in oil prices limited the losses on the far-curve.
Energy Market Analysis - 03-08-2016
3rd August 2016 | Posted by: Daniel Birkett | Market Analysis
Gas prices continued to move down during Tuesday’s session despite weaker imports from Norway and the start of maintenance at the Britannia gas field. Elsewhere, a rise in Russian gas flows via Ukraine helped to weigh on European prices which also applied downward pressure on some corresponding UK contracts. Meanwhile, Brent recorded another loss which resulted in further downward movement on the far-curve.