UK Gas prices have increased this morning, on the back of a short UK system and rising Oil prices.
Weather in the UK is looking warm for the next couple of days, with thunderstorms expected on Wednesday, and cooler temperatures towards the end of the week.
The NBP system has opened 9mcm short this morning, with demand pegged at 14mcm above seasonal normal levels.
Oil prices have risen this morning, offering support to the curve. This is on the back of, a slowdown in the growth of rigs looking for crude in the US and strong refinery demand in China.
UK Power prices have also increased this morning, as they follow the NBP trend.
Solar generation levels are high over the next couple of days, in line with warmer weather. As temperature forecasts turn cooler, solar is expected to decrease, whilst wind levels ramp up later this week and into early next week.
Oil prices have continued their increase today, as prices react to strong Chinese demand and signs of a slowdown in US output.
As UK Gas prices increase on the back of a short UK system and rising Oil prices, this adds support to the Power curve and creates a trend to follow.
Dutch and French Gas prices have increased this morning, however not as strong as the UK, staying around near Fridays close.
Norwegian imports to the continent are hovering around Friday’s levels, with Russian imports increasing following the end of the Velke maintenance.
Oil prices have increased again this morning, in line with rising Chinese refinery demand and a slowdown in US growth.
Weather on the continent is set to be above seasonal normal this week, then there is looking to be a cooler west, warmer south east weather split, going into next week.
Dutch and German Power prices have remained hovering around Fridays levels this morning.
Similar to the UK, whilst the warm weather continues on the continent, solar generation is expected to remain high, as cooler temperatures begin to takeover, solar levels dip and strong wind levels are expected.
Oil prices have risen this morning, reversing any losses made via warm weather. This is following, a slowdown in the growth of rigs looking for crude in the US and strong refinery demand in China.