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Daily Energy Market Commentary Friday 16 June 2017
16th June 2017
Business Energy News
Daily Energy Market Commentary
Friday 16 June 2017
• UK Gas prices have pushed up slightly this morning, on the back of rising Oil prices and a short UK system. Temperatures still remain very warm in the UK however, limiting rises.
• Today the UK system has opened short – supported by unplanned outages at Kvitebjǿrn and Kristin plants, and reduced Langeled flows, despite maintenance ending yesterday.
• Yesterday the Pound appreciated against the Euro, and is still at good levels this morning. Positive effects were created by the Bank of England’s decision not to increase interest rates.
• Oil prices have increased this morning, on the back of a partial export halt taking place in Libya.
• UK Power prices have followed the NBP’s trend and have marginally increased. This is down to a short system in the UK and decreases in wind generation.
• Over the weekend, wind generation levels are expected to decrease and remain weak in comparison to recent levels, Solar is expected to increase over the weekend.
• Oil prices have increased this morning, adding support to the curves. This happens as export halts take place in Libya.
• Both Dutch and French Gas prices have also risen minimally this morning.
• Very warm and sunny conditions across the continent this weekend, next week temperatures could turn somewhat cooler, however France is likely to stay warm throughout.
• Imports from Norway to the continent have been revised higher this morning, also LNG send outs from Gate and Montoir remain strong.
• The Euro has weakened, as the Pound strengthened following the Bank of England’s decision to not increase rates.
• Oil prices have rose this morning, as Libyan exports come to a partial halt.
• Dutch Power prices have risen slightly this morning, as German Power are lacking direction with changes differing across the curve.
• Very warm continental temperatures over the weekend, potentially set to be cooler next week, especially in Germany and Eastern Europe.
• Wind generation levels are expected to fall over the weekend, as solar levels are expected to rise.
• The Euro has weakened yesterday and this morning, as the GBP gains strength following news the Bank of England will not be increasing interest rates.
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