Daily Energy Market Report 7th June 19

 

The NBP has opened marginally under supplied this morning as Norwegian imports along the Langeled pipeline have fallen by 21mcm day-on day and demand is currently 12.8mcm above its respective seasonal norms.

Both LDZ demand and power burn notably higher than this time last year and any warm spell that arrives to the UK is forecasted to be short-lived.

The Prompts premium to the Front-month is wide enough for storage sites to optimise withdrawals, seeing 14.8mcm nominated to export today.

The outage at the Kristin field has concluded today and planned maintenance at the Troll field and Kollsnes processing plant is scheduled to commence this weekend.

Although EU ETS contracts have softened seeing the Dec-19 expiry EUA shed ~€0.27/tonne, contracts further along the forward curve have taken direction from a bullish retrace of API2 coal gaining over $1.7/tonne and Oil prices jumping over 2% in yesterday’s session, reversing its trend after nearly hitting 5-year lows following a report that the USA is considering delaying possible sanctions on Mexico.

Have a great weekend.

Daily Energy Market Report 7th June 19 brought to you by British Utilities

, , , , , , , , , , , , ,
Previous Post
Daily Energy Market Report Thursday 6th June 19
Next Post
Daily Energy Market Report Monday 10th June 19

Related Posts

Daily Energy Market Report Friday 15th March 19

Daily Energy Market Report Friday 15th March 19. Mild forecasts remain in place regardless of the drop-off forecasted in temperatures for next week; this bearish sentiment is eroding the cold risk remaining in the market. Next week will see lower wind generation but improved solar and much drier conditions. Day-on day demand has reduced by…
Read More
Menu