Daily Energy Market Report Tuesday 13th August 19
Bullish open on the NBP again this morning with a short system and strength in wider commodities.
Brent has risen off the back of a forecast decline in US crude stockpiles despite concerns on dropping demand with the US/China trade war and global economic slowdown.
Both carbon and coal have also strengthened this morning following strong losses yesterday as a result of high storage levels and weak demand for coal and a weak EEX auction for carbon EUA’s.
The system is short again today at -8.5mcm.
Storage withdrawals are nominating at 6mcm and LNG send out is low at 5.3mcm.
The major sources of UK supply remain the UKCS at 60.5mcm and Langeled at 31.6mcm.
Both of which are at reduced flows due to planned maintenance.
The 2-week weather forecast remains mixed and unsettled with temperatures expected below seasonal normal at first but then warming up this weekend ahead of another cooler period early next week.
Daily Energy Market Report Tuesday 13th August 19 brought to you by British Utilities