Daily Energy Market Report Monday 10th June 19

Daily Energy Market Report Monday 10th June 19

 

The NBP has opened higher than Fridays close this morning of the back of strength in wider commodities and colder weather.

Brent is up after Saudi Arabia said OPEC and Russia are close to agreeing further production cuts to tighten supply.

Carbon and coal prices are rising in line with gas markets with a weaker USD also contributing to gains in coal.

The UK system is around 8mcm short this morning.

Demand sits at 197mcm, 31mcm above seasonal normal which is a strong demand figure for the time of year in the UK.

This is as a result of below seasonal normal temperatures with the UK set for cool and unsettled weather conditions in the near term.

On the supply side, LNG sits 12.4mcm, a marked reduction from levels we have seen in previous months this year as the UK has only received 1 cargo this month.

Langeled sits at 61.8mcm with a small unplanned outage at Troll taking 3mcm of capacity offline.

UKCS is nominating at 69.8mcm.

Daily Energy Market Report Monday 10th June 19 brought to you by British Utilities

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