Energy Market Analysis - 07-10-2016
7th October 2016 | Posted by: Daniel Birkett | Market Analysis
Gas prices moved higher on Thursday with support coming from a potential worker’s strike at the Nyhamna gas plant in Norway which could impact supply levels. LNG send-outs were weaker in the UK, with a colder weather outlook also a bullish factor. Further out, prices were influenced by stronger coal, oil and power contracts, as well as a weaker Pound.
Energy Market Analysis - 06-10-2016
6th October 2016 | Posted by: Daniel Birkett | Market Analysis
Norwegian supply was reduced further yesterday which supported contracts on the near-curve, while rising oil continued to push far-curve prices higher. Gas demand is also expected to increase across Europe due to colder temperatures which provided further bullish pressure, as did another drop in the Pound.
Energy Market Analysis - 05-10-2016
5th October 2016 | Posted by: Daniel Birkett | Market Analysis
Movement on the gas curve was largely bullish on Tuesday, erasing the strong losses displayed on the prompt in the previous session. Norwegian imports into the UK fell by 25mcm which offered support to the near-curve, with a colder weather forecast for next week also a factor. Further out, contracts continued to be pushed higher by rising Brent and a weaker Pound.
Energy Market Analysis - 04-10-2016
4th October 2016 | Posted by: Daniel Birkett | Market Analysis
Gas contracts initially opened higher on Monday on the back of weak LNG send-outs and a colder weather forecast for next week. However, a sharp rise in Norwegian imports via the Langeled pipeline in the afternoon resulted in an oversupplied system and erased some of the morning’s gains. The downward movement further along the curve was slightly restricted by a drop in the Pound and rising oil prices.
Energy Market Analysis - 03-10-2016
3rd October 2016 | Posted by: Daniel Birkett | Market Analysis
Gas prices displayed a slight decrease on Friday afternoon as a result of an expected rise in Norwegian flows this week following the end of seasonal maintenance. Temperatures were also forecast to be rather mild during October which could weigh on demand levels. Further out, a downward correction in oil prices provided additional bearish pressure for some contracts.