Daily Energy Market Report Thursday 20th Dec 18. The UK market has opened short this morning, – 28mcm with slightly increased gas demand for Thursday, at 287mcm which is slightly above seasonal norm.
The UK is expected to face a drop in temperatures on Christmas Eve until Wednesday 26th December but the view generally remains above seasonal normal for temperatures until January.
Gas demand remains slightly higher than anticipated by the low wind generation that has been underwhelming for a number of weeks.
The curve was supported on Wednesday by gains across the energy complex, with strength in the Coal and Carbon markets.
December 2019 EUA’s are currently exchanging at €24.31, which has lifted over €4 since 12th December.
Brent Crude prices have been slashed overnight with a weak opening.
Slowing economic growth has investors concerned about global demand moving into 2019, record production levels from the US and lack of confidence on OPEC’s pledge to reduce production, with prices trading at $55.30 per barrel.
Daily Energy Market Report Thursday 20th Dec 18 brought to you by British Utilities