Daily Energy Market Report 6th December 2017
NBP contracts have softened this morning off the back of warmer temperatures.
The market is being driven by the weather with an evident sensitivity to changes in the forecasts.
This morning’s runs were a touch warmer which has driven the prompt and Q1 downwards over 1p.
The system is very healthy at roughly 35mcm long, with much of the UK supply coming from the continental shelf and Norway.
Demand is down with LDZ lower as temperatures this morning are half a degree higher than expected.
Power burn is also down as wind generation is very high.
Brent has moved lower Day on Day as U.S. fuels stocks have risen by 9.2 million barrels – which is suggestive of weak demand.