Daily Energy Market Report Friday 13th July 2018
The UK opened with a short system this morning, holding a 4mcm short as demand increased above 190mcm for the first time since 4th May.
Total UK demand is at 192mcm today, with seasonal average at 164mcm.
The IUK continues to export at strong levels, currently flowing at 52mcm, with CCGT gas burn increasing day on day to 62.2mcm.
UK storage is injecting 8mcm today, up from Thursday’s levels.
UK gas prices have held relatively flat this morning when compared with Thursday’s close, despite higher Oil prices and a short UK system.
Despite a small tick up in Oil today, it is expected to see its biggest weekly loss in nearly 5 months, as Libya plan to boost supply and tensions between the US and China halt demand.
UK temperatures are expected to remain above seasonal average for the coming weeks, however cooler periods are forecast.
A more unsettled view has been brought to the models today, likely to bring higher wind and some cloudier days in the UK towards the end of July.