Energy Insight 2018 - Week 27

Your regular snapshot of the wholesale energy markets.

Bearish sentiment prevailed in the markets at the beginning of last week, with the NBP recording a session-on-session loss of almost 2%, despite the presence of strong demand fundamentals at the front of the market. Weaker Brent crude oil pressured the front of the curve following bullishness at the end of the previous week amid OPEC talks.

Contracts gained value on the far curve, with stronger ICE Rotterdam coal futures providing the incentive for seasonal products to trade higher. Demand was expected to increase as we progressed through the week, but remained relatively weak which meant extensive gains were somewhat prevented towards the front of the curve.

On Wednesday the gas market was bullish, with the Day-ahead up by over 6% on the previous session. Gains were influenced mostly by strong Brent crude oil which continued to incentivise movements on the utilities markets, gaining $2.00/bbl in one session and trading near to the four-year high that it hit towards the end of May…

 

Gas Prices (p/therm)

 

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