Daily Energy Market Report Wednesday 14th February 2018
Prices on the NBP prompt have opened lower this morning off the back of nearer term weather runs coming in warmer.
However, the longer-term forecast is a cold one with the April – 18 contract holding some of the gains saw yesterday.
The system is also well supplied at around 15mcm, which will be further supporting losses at the prompt.
An outage a Bacton Seal, expected to last 4 – 6 days, is taking approx. 13mcm of capacity offline.
Brent continues to weaken because of rising U.S. inventories contributing to an oversupply.
However, strong global economic growth and a weaker dollar is keeping a lid on losses.