Energy Market Analysis - 18-08-2016
18th August 2016 | Posted by: Daniel Birkett | Market Analysis
The UK gas system moved into oversupply yesterday which applied downward pressure on the near-curve in the afternoon, during a session of mixed movement. The system was 20mcm long, helped by weaker demand and resulted in a loss on the prompt. Further out, an increase in oil prices helped contracts climb higher, ignoring a rebound in the Pound.
Energy Market Analysis - 17-08-2016
17th August 2016 | Posted by: Daniel Birkett | Market Analysis
Gas contracts ignored weaker demand levels on Tuesday with a stronger Dollar and gains on the oil market dictating the curve. Brent continues to act as the main market driver for gas following comments made by OPEC members in regards to working towards market stability and being open to a potential freeze on oil production.
Energy Market Analysis - 16-08-2016
16th August 2016 | Posted by: Daniel Birkett | Market Analysis
Near-curve gas contracts decreased on Monday as supply levels improved and helped the system remain long throughout the session, with warmer weather also leading to weaker demand levels. Norwegian imports into the UK via the Langeled pipeline strengthened at the end of last week, while gas stocks are higher than expected. However, bearish movement further along the curve was slightly restricted by rising Brent.
Energy Market Analysis - 15-08-2016
15th August 2016 | Posted by: Daniel Birkett | Market Analysis
A rising oil market supported contracts on the far gas curve on Friday, with a reported increase in demand fuelling bullish sentiment. Meanwhile, an expected rise in temperatures this week helped to restrict upward movement at the front of the curve, with improved supply levels also contributing to a long system.
Energy Market Analysis - 12-08-2016
12th August 2016 | Posted by: Daniel Birkett | Market Analysis
The UK gas system was long throughout yesterday’s session which helped to weigh on near-curve gas prices. The Day-Ahead contract fell to its lowest price in 10 weeks as strong wind generation reduced the nation’s need for gas-fired power generation. Further out, an increase in Brent in the afternoon helped to support some contracts with the help of a weakening Pound Sterling.