Daily Energy Market Update Thursday 28th June 2018
UK Gas prices have opened lower on Thursday, with a long system and slightly weaker Oil prices.
The UK opened with a system holding 13.6mcm in length.
Total demand has lifted by 8mcm today, as wind generation remains low, whilst solar levels have also reduced due to an increase in cloud cover.
The IUK is back open today after maintenance began on 13th June.
Flows through the Interconnector are currently exporting 34.3mcm to the continent.
Throughout June, during the maintenance period on the pipeline, the UK has been able to increase storage levels from 14% to 35%.
Oil prices lost some value this morning, retreating from 4-year highs that were reached on Wednesday.
Fears remain in the market of Iranian exports falling considerably due to the US sanctions placed on the nation.
Prices rallied on Wednesday, as any production increase is likely to be offset by a fall in Iranian production because of sanctions.
UK temperatures are set to remain above seasonal average for the remaining days of the month and into July.