Daily Energy Market Report Tuesday 25th June 19
Prices on the NBP have opened lower on Tuesday morning, despite the UK having opened with a short system again, for the 13th consecutive day, as once again Norwegian flows are restricted and UK exports fall.
Total UK demand remains above seasonal norm at 179mcm for today, holding 21mcm above average, but with warmer temperatures expected to arrive in the coming days, prompt prices have fallen.
Restriction on Norwegian maintenance remains in place today, leading to reduced flows down at 56mcm.
Temperatures are set to increase over the coming days, likely to climb 3/4°C above seasonal norm, before turning warmer over the weekend.
Models are currently suggesting temperatures will sit 6°C above average.
The US has imposed further sanctions on Iran targeting the Supreme leader in a move, which has supported Oil prices leading to the price trading around $64.75.
The commodity could prove volatile with G20 summit and OPEC meetings within the next fortnight.
Daily Energy Market Report Tuesday 25th June 19 brought to you by British Utilities