Energy Market Analysis - 02-09-2016
2nd September 2016 | Posted by: Daniel Birkett | Market Analysis
Gas prices displayed further losses on Thursday as the UK gas system was long throughout the session, with a rise in Norwegian imports also expected today. Norwegian flows are set to be redirected to the UK due to maintenance at pipelines to mainland Europe. LNG send-outs also increased with several deliveries expected to arrive in the coming weeks; this resulted in losses across the near-curve, while contracts further out were pressured down by falling Brent.
Energy Market Analysis - 01-09-2016
1st September 2016 | Posted by: Daniel Birkett | Market Analysis
Day-Ahead gas fell close to a seven-year low yesterday on the back of significant oversupply and low demand in the UK. The Rough storage facility remains unavailable for storage injections which led to exports to Belgium reaching their capacity, with the remaining storage sites in the UK close to being full. Furthermore, additional Norwegian flows could be redirected to the UK due to maintenance at the Zeebrugge pipeline over the next few days.
Energy Market Analysis - 31-08-2016
31st August 2016 | Posted by: Daniel Birkett | Market Analysis
The UK gas system was oversupplied throughout Tuesday’s session despite a halt in Norwegian imports due to planned maintenance. Higher UKCS production and weaker demand helped the system remain long and also led to an increase in exports to Belgium. This healthier supply picture helped near-curve prices record a loss, while a drop in Brent weighed on contracts further along the curve.
Energy Market Analysis - 30-08-2016
30th August 2016 | Posted by: Daniel Birkett | Market Analysis
Gas contracts moved higher on Friday ahead of planned maintenance work at Norwegian facilities which will limit imports into the UK. A rebound in oil prices also offered additional support further along the curve, while movement on the prompt was limited by a weaker demand forecast over the bank holiday.
Energy Market Analysis - 26-08-2016
26th August 2016 | Posted by: Daniel Birkett | Market Analysis
Gas contracts initially opened higher yesterday due to a comfortable gas system and a weaker demand forecast for the Bank Holiday weekend. However, prices gradually rose throughout the session due to an increase in Brent, a weakening Pound and a drop in Norwegian flows.