Daily Energy Market Report 4th December 2017
TTF and NBP contracts on the near curve moved upwards this morning as cold weather risk is supporting prices.
The prompt has opened strong despite the system being 21mcm long and strong renewable generation, the cold weather risk is dragging – up the Day – Ahead with the Q118 maintaining the spread.
Currently MRS sites are injecting 4mcm and IUK imports are at 35mcm.
Strength on Brent crude, EU ETS contract API2 coal are supporting the curve contracts at both the NBP and TTF respectively; OPEC’s decision to extend the production cap for a further nine months is still supporting Oil as it remains of $63/bbl.