Daily Energy Market Report 14th November 2017
Gas prices lifted at the front of the curve on Monday, with increased demand and cold weather.
On Tuesday, gas prices have opened softly, with warmer weather forecasts modelled overnight.
Temperatures have lifted approximately 3°C pushing November forecasts above seasonal norm .
The UK system also opened approximately 9mcm long this morning helping to further pressure the near curve despite a healthy increase in CCGT and gas burn for power generation following a decline in wind levels today.
Norwegian flows into Easington Langeled are expected to drop on Wednesday as planned maintenance begins with an expected curtailment of around 20mcm.
This is expected to last for one day.
There has been a slight pullback in Brent Crude prices on Monday with US government claiming that US Shale production will rise for a 12th consecutive month in December, reducing the optimism generated by OPEC in recent weeks.