Oil prices have fallen over a dollar, with the decline starting yesterday afternoon. This fall is following OPEC’s report of increased production yesterday.
The NBP system has opened balanced this morning. UKCS flows are up slightly, along with higher IUK exports today.
South Hook nominations are down today, despite 2 cargoes expected towards the back end of August.
UK power prices have remained around yesterday’s closing levels this morning.
Some wind and solar generation is expected today for South East England, however other areas remain much cloudier.
2 Nuclear units are offline, Dungeness Unit 2 and Hinkley B Unit 8. Offering support to the curve and limiting losses.
Oil prices have fallen this morning, following OPEC’s report on production yesterday. However Coal prices have continued to firm from yesterday, again limiting any losses.
Dutch and French Gas prices have fallen this morning, mainly on the back of a sharp decline in Oil prices.
Russian flows are up 26mcm this morning, as Mallnow is back at full capacity.
Norwegian outages are also up on the continent today, this could increase further if the Heimdal outage is resolved today as planned.
Oil prices declined over $1.50 yesterday, and that sentiment has continued this morning. This is following the release of OPEC’s report yesterday, stating that there has been an increase in production.
Dutch and German Power prices similar to UK Power, have opened around yesterday’s closing levels.
Lower wind levels are expected over the weekend, however next week breezier and more unsettled weather is expected in NW Europe.
Coal prices have strengthened yesterday and this morning, following disruptions with Russian Far East railing. This is limiting any potential losses.
Oil prices have fallen yesterday and this morning, following the release of the OPEC report yesterday, stating increases in production.