Brent edging closer to $70.00 a barrel and West Texas settling at its highest in 2 years

Prompt gas prices eased significantly Demand on the UK gas system was some 30MCM above the seasonal norm yesterday as temperatures remained below normal and wind generation was subdued.  A big increase in storage injection rates, following weeks of withdrawals, also added to the overall demand but an early system deficit was recovered as LNG […]

latest surge in carbon prices pushed power prices for the coming 12 months to new life-of-contract highs

 UK gas prices recorded strong gains on both prompt and futures contracts on Friday UK gas prices recorded strong gains on both prompt and futures contracts on Friday with the prompt gaining additional support as the gas system experienced a supply deficit for most of the afternoon.  Carbon was again the main driver of gas […]

Crude oil contracts have recovered some of yesterday’s losses

Prices have been elevated and increasing for the last number of sessions The UK NBP market opening considerably lower on Thursday with gas prices trading between 2.00p and 3.00p lower than the previous night’s close.  Prices have been elevated and increasing for the last number of session and Thursday’s softer market was a welcome development […]

Record day-on-day gains in carbon EUAs

 Gas futures recorded average gains of over a penny Temperatures fell back below seasonal levels on Wednesday and with wind generation falling below 2GW, demand on the UK gas system rose to 195MCM.  Solid deliveries levels of 200MCM maintained a supply surplus throughout the trading day but the recent bullishness on the prompt gas market […]

Weaker dollar and re-forecasts for 2021 demand from OPEC flipped the market

 Rising carbon EUAs continued to buoy the energy markets While the futures market may have opened with losses of around a penny on the near curve yesterday, the market firmed over the day as demand concerns picked up, while rising carbon EUAs continued to buoy the energy markets. Forecasts have turned cooler for the next […]

A cyber-attack on one of the most critical energy infrastructure links in the U.S. saw crude prices open higher

 A big increase in wind generation ensured gas demand remained subdued The below average temperatures which prevailed throughout the past week climbed to more normal levels for the time of year and demand on the UK gas system eased as a result.  A big increase in wind generation ensured gas demand remained subdued and the […]

Carbon prices hitting new record high, EU ETS unit prices above €50.00 per tonne on Friday

 Near futures gas prices relinquished some of the premium built up recently The below average temperatures which prevailed throughout most of April and early May finally climbed to more normal levels for the time of year and demand on the UK gas system eased on Friday as a result.  Even as wind generation fell to […]

GB power futures recorded significant gains again

 The supply demand balance is expected to stay tight due to unseasonably cold temperatures UK NBP gas prices remained elevated on Thursday and added further premium during the course of the day with prices for the coming winter recording gains of over a penny.  With unseasonably cold temperatures being forecast over most of Western Europe […]

Carbon EUAs resumed the bullish trend

 Gas supplies expected to remain tight across Europe for the remainder of May With gas supplies expected to remain tight across Europe for the remainder of May, gas prices on the NBP resumed an upward trend after taking a breather on Tuesday.  Norwegian maintenance is to step up for the back half of May while […]

Brent crude up 82 cents overnight and touching the $70.00 a barrel mark

 Overall demand on the system was only slightly above normal A significant supply deficit saw the UK gas system forecast 30MCM short yesterday morning.  Overall demand on the system was only slightly above normal thanks to very strong wind generation levels and despite below normal temperatures.  Spot and day ahead gas prices gained 4.00p and […]