Oil & Markets
Daily Energy Market Report 11th October 19: Sterling rebounded from recent lows yesterday as reports surfaced of productive talks between UK and Irish PMs.
Brighter prospects in reaching something resembling a Brexit deal over the coming weeks pushed the pound to record the largest daily gain on the euro since March.
Outlooks for progress in US-China talks have also improved after a positive first day.
Confidence may be short-lived given the tumultuous wider political environment, though Asian equities have been quick to positively react today.
Oil markets have also pushed higher, front-month Brent crude currently testing above $60/bbl.
Gas & Power
Support crept into contracts across the curve late on in Thursday’s session after a reasonably range bound day.
Limited liquidity in longer dated gas prices prompted more notable upside than seen in more short-term contract, where positive fundamental drivers continue to dampen moves.
The prospect of diminished barriers to global trade and the implications for energy demand may leave room for further upside, though current positivity is hardly concrete.
Daily Energy Market Report 11th October 19 brought to you by British Utilities