Energy Market Analysis - 11-08-2016
11th August 2016 | Posted by: Daniel Birkett | Market Analysis
Gas contracts inched higher yesterday as a drop in Norwegian flows resulted in a short UK gas system, however gains on the far-curve were slightly restricted by weakening oil contracts. A warmer weather forecast for next week and a scheduled LNG delivery later in the month also helped to hold off the bulls.
Energy Market Analysis - 10-08-2016
10th August 2016 | Posted by: Daniel Birkett | Market Analysis
Gas prices moved down yesterday as supply levels improved and temperatures are expected to increase at the weekend and over the course of next week. Cooler temperatures in the last week or so resulted in an increase in residential demand which should soften in the coming days, resulting in bearish movement on the near-curve. Meanwhile, flows via the St Fergus terminal increased by 10mcm and UKCS output should remain stable until Sunday at least.
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.