Daily Energy Market Report Thursday 14th Feb 19. Prices lifted this morning on the NBP driven by increased demand and bullish fundamentals on the far curve.
The UK DA price traded up on Wednesday, fuelled by increased forecast demand for Thursday.
Temperatures for today are 2°C cooler than yesterday lifting demand slightly before the mild weather delivers this week.
Total demand is sat at 272.4mcm today, 13mcm below seasonal norm but 10mcm increase in gas burn for power generation.
The GBP posted some poor economic data on Wednesday, losing value against the US Dollar, however the Eurozone saw results show that growth was at -4.2%, the lowest since financial crisis.
Brent Crude has lifted over $2.50 this week, with huge gains seen on Wednesday afternoon and into Thursday morning.
The IEA published reports that global production and export dropped in January, days after Saudi Arabia committed to more production cuts.
There was also renewed optimism at a trade deal between US and China, which could lift demand.
Daily Energy Market Report Thursday 14th Feb 19 brought to you by British Utilities