Energy Insight 2018 – Week 24

Your regular snapshot of the wholesale energy markets.

At the beginning of last week, both the NBP gas and UK wholesale power markets opened strongly but struggled maintain their gains by the end of the day. Significant restrictions on British and Norwegian upstream assets continued to lift NBP prompt products above the curve.

The St Fergus NSMP, Teesside BP and Bacton SEAL sub-terminals all suffered from restricted imports, with over 45mcm/day of Norwegian production capacity forced offline. However, the decline in Brent crude prices has influenced a downturn in the utilities markets. Prices began to drop after news emerged that the USA informally asked some OPEC countries to increase their production by 1 million bpd…

 

 

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