Daily Energy Market Report Thursday October 19

Oil & Markets


Daily Energy Market Report Thursday October 19: Brexit continues to command top billing across news outlets as time for striking a deal was runs out ahead of the start of the EU Council summit later today.

Moves in FX were volatile throughout the session as attempts to price in the various unconfirmed rumours around progress in negotiations were made.

Initial signs this morning look a little less positive for getting the agreement over the line as the DUP signal they cannot support the deal.

Sterling has pulled back from the recent highs as a result, though more volatility is likely on the way as more detail on the matter is revealed as the day progresses.


Gas & Power


Prices across the energy curve echoed the story from the previous session on Wednesday.

Strength in carbon markets continued in line with ongoing speculation around Brexit shenanigans, negating scope for pressure on power forwards across European hubs.

Gas markets instead focussed on more somewhat concrete factors.

Positive supply outlooks  both  intra-day  for  the  coming  weeks  knocked  value  from  prompt contracts and dragged the near curve lower.

Prices further out showed more keenness to price in concerns of wider economic issues weighing on demand, seeing seasonal contracts push towards the bottom of recent ranges.

Daily Energy Market Report Thursday October 19 brought to you by British Utilities

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