Energy Market Analysis - 11-05-2016
11th May 2016 | Posted by: Daniel Birkett | Market Analysis
Near-curve gas contracts posted losses on Tuesday as the UK gas system was oversupplied throughout the session, however, rising oil prices limited downward movement on the far-curve. Norwegian flows via the Langeled pipeline increased as a number of outages were resolved, although capacity at the Nyhamna processing plant is still restricted. LNG send-outs also ramped up which further weighed on prompt contracts with the help of an upward revision in temperatures for next week.
Energy Market Analysis - 10-05-2016
10th May 2016 | Posted by: Daniel Birkett | Market Analysis
Gas prices initially opened higher on Monday morning but a drop in oil prices helped contracts close at a discount. Unplanned outages at Norwegian facilities limited flows into the UK but warm weather reduced demand levels; helping the UK gas system remain close to balance. The morning's bullish movement was largely a result of a cooler weather forecast for the weekend and next week, with supply constraints also offering support.
Energy Market Analysis - 09-05-2016
9th May 2016 | Posted by: Daniel Birkett | Market Analysis
Prompt gas prices moved higher on Friday afternoon as Norwegian supply levels decreased, with weaker demand levels doing little to restrict the gains. Norwegian imports via the Langeled pipeline fell to 12mcm, while flows at the St Fergus terminal halted, resulting in a short gas system. Further along the curve the majority of contracts moved down as oil prices decreased.
Energy Market Analysis - 06-05-2016
6th May 2016 | Posted by: Daniel Birkett | Market Analysis
Rising Brent supported contracts further along the curve yesterday, although a comfortable supply/ demand outlook for the coming week helped to limit upward movement on prompt prices. Outages at Norwegian facilities limited imports into the UK which fuelled the bullish sentiment but the changes were minimal after strong gains in the morning.
Energy Market Analysis - 05-05-2016
5th May 2016 | Posted by: Daniel Birkett | Market Analysis
Gas contracts recorded losses at the start of Wednesday’s session on the back of a warm weather outlook and comfortable supply. However, a surge in oil prices in the afternoon resulted in strong gains across the curve, erasing the morning’s losses and ignoring a comfortable supply outlook.