Daily Energy Market Report Tuesday 11th June 19
The NBP has opened lower this morning after yesterday’s gains with cooler temperatures and strength in carbon EUA’s.
Carbon prices lifted yesterday due to thin liquidity as a result of European national holidays.
With liquidity picking back up again today prices have come off from yesterday’s highs, adding downwards pressure to the NBP.
Brent has also moved lower as the global economic slowdown is reducing demand growth.
This is mitigating gains as a result of the possibility of further OPEC cuts.
The UK system remains short as this spell of cooler and more unsettled weather continues with demand at 204.4mcm, 39.5mcm above seasonal normal.
Daily Energy Market Report Tuesday 11th June 19 brought to you by British Utilities