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Home Archived Summaries18 April 2017 Market Open

Archived Summaries

Tuesday 18 April 2017
Market Open
The crude markets were open yesterday and Brent eased by 53 cents to $55.36 a barrel. Brent is currently exchanging at $55.21, down a further 14

cents a barrel as the EIA forecasts a boost in U.S. shale production in May. In the UK, the gas system is forecast to close a couple of MCM shy as demand is pitched at 265MCM for today. The prompt has ticked up as a result and is around 0.35p higher in early trading. The futures market has had a slow start after the holiday weekend and the front of the curve is feeding off the prompt with May last trading at 38.80p while the winter is the only other product active and is offered at 46.65p.

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Market Update

Monday 06 November 2017:Crude oil prices turned sharply higher on Friday with Brent crude gaining $1.45 to settle at $62.07 while WTI gained $1.10 to $55.64 a barrel, the highest level since July 2015
Monday 06 November 2017:The market responded to the renewed commitment by Saudi Arabia and Russia to an extended period of production cuts
Monday 06 November 2017:The UK gas system was well-supplied on Friday with Norwegian deliveries up to 130MCM and the Bacton-Zeebrugge interconnector operating in import mode
Monday 06 November 2017:The day ahead contract for today gained 0.60p on forecast higher demand for today as temperatures are expected to move below the seasonal norm this week

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Daily Market Summary

Friday 03 November 2017
Market Close
Natural gas prices generally eased despite a sharp rise on crude oil markets on Friday. The day ahead contract at the NBP was the exception, gaining 0.60p on forecast higher
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Monday 06 November 2017
Market Open
Demand on the UK gas system has risen to its highest level since March and is forecast at 272MCM today. Forecast deliveries are some 10MCM long but
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