Small Business Energy Market Update
05 December 2017
What has happened to Gas prices today?
UK gas prices remain volatile this week with quite significant price movement through the day. Gas prices decreased sharply on the last days of November upon a warmer temperature forecast and a strong GBP against the Euro as it was announced that the UK and EU had settled on the first Phase of Brexit negotiations.
OPEC meeting held in Vienna on 30th November did little to impact the market despite announcing a further 9 month extension to production limits to now end in December 2018. This was highly anticipated and Oil prices have since decreased back towards the $62bbl mark.
Since Monday gas prices have increased strongly again on the back of colder weather forecasts returning, with weekend forecasts turning significantly colder. The market was softened by news of a return to action of Tricastin Nuclear plant in France which had been ordered to shut down on safety grounds.
What specifically affected prices in the past week?
Bullish Factors (Upward Pressure)
Bearish Factors (Downward Pressure)