Oil & Markets

 

Daily Energy Market Report Monday 7th October 19: Moves across global markets were more muted on Friday after a week of heavy losses.

Weak results from US pay data was countered by better-than-forecast unemployment numbers, curbing the marked pressure on both oil and equity markets.

Trade talks with China are set to resume this week, which could provide further relief should current pessimism prove overstated.

Moves in sterling remain largely unremarkable as the market holds off from taking a more pronounced position until something in the way of clarity in Brexit progress from this week’s “intensive negotiations” with the EU.

 

Gas & Power

 

As seen across wider markets, moves on the European energy curve were reasonably limited on Friday after a tumultuous week.

Prompt volatility was more marked, day-ahead gas shedding value from a strong open after Gassco confirmed maintenance at Troll was to end earlier than expected.

Flows through Langeled have increased into this morning as a result; brightening supply outlooks as heating demand continues to increase.

Coal marginally firming allowed for a slight retracement of losses in power forwards, though scope for upside was hampered by carbon markets pushing closer to technical support.

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

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