• This morning, UK Gas prices have increased minimally staying at similar levels they closed at last night.
• We have seen upward revisions to LDZ consumption for the next 10 days, stopping any potential losses following a long UK system. Weak LNG send outs remain in the UK.
• Warmer weather is expected for this weekend, however temperatures are set to get cooler next week, adding support to the curve.
• Oil prices are down this morning, as expectations are that the political rift in the Middle East could reverse OPEC’s attempts to stabilise the market. This and LNG are increasing volatility on the UK market, affecting the curve.
• The pound has begun to recover from its losses, as election polls start to favour a Conservative win.
• UK Power prices have remained at the same sort of levels seen yesterday afternoon. Again following the UK Gas trend.
• High wind generation and lower solar is expected for the remainder of this week, with this swapping places next week as mid next week wind generation is expected to be extremely weak.
• Power burn forecasts have fallen for today and tomorrow, whereas next week should see greater as wind decreases.
• Oil prices have fallen this morning on the back of the Middle East rift, Coal however has risen this morning, limiting any losses.
• Both Dutch and French Gas prices have remained at the same levels they closed yesterday, as cooler weather expectations counter long systems.
• The continent is set to see cool weather for the coming days, with warmer conditions to return for the weekend leading into next week.
• Russian and Norwegian imports have continued to remain strong to the continent, with LNG send outs increasing too.
• Oil prices have fallen today, as the market decides whether the political issues with the Gulf countries will undo all OPEC efforts.
• Dutch Power has increased across the board this morning, as German Power prices show losses in the front end, and rises towards the back of the curve.
• Wind generation levels are healthy this week, however they are expected to drop off to weak levels next week and increase Power burn.
• Holidays have increased volatility in the markets, as increases in Coal prices also add support across the curves.
• Cooler temperatures on the continent are also adding strength to the curve, as heating demand increases.