• UK Gas has moved marginally this morning from yesterday afternoons prices, but has posted gains across the board from yesterday morning’s prices.
• NBP is short this morning, as we see weak flows from Bacton SEAL and Langeled flows continue to reduce day on day – however this is expected to ease tomorrow as Orman Lange returns, and Troll returns Friday.
• Oil prices have increased again today, as the market continues to digest Saudi Arabia and Russia’s announcement yesterday.
• UK Power has opened mixed this morning. At the front end we have seen some increases, and towards the back end there is minimal movement.
• Both Oil and Coal prices have increased this morning. Oil on the back of yesterday’s production cut announcement, this is adding support to the curve.
• Low wind outlook – expected to fall dramatically tomorrow, and higher cloud cover leading to lower solar generation.
• Firmer Gas prices, and slow LNG send out are adding weight to the near curve and increasing prices.
• Both Dutch and French Gas have remained at similar levels to yesterday, with no major movements across the curve.
• Warm weather forecasts for the continent this week, potential to dip over the weekend, but next week is expected to be even warmer, with the start of June showing signs to be very mild.
• Norwegian flows to the continent are slightly higher this morning, however, Russian flows have decreased. LNG levels are also decreasing.
• Oil prices have increased again this morning (2% increase following the announcement), as markets continue to react to the 9 month production cut extension.
• German and Dutch Power have posted losses towards the front end of their curves, and extremely minimal movements everywhere else.
• A stronger nuclear availability on the continent has added weight to prices.
• Oil and Coal prices have both increased today, capping any potential losses across the curve.
• Wind Power is expected to fall sharply tomorrow, and forecasts for Solar appear lower as cloud cover increases.