Energy Insight 2018 - Week 32

Your regular snapshot of the wholesale energy markets.

NBP natural gas contracts were lifted on Monday, with capacity restrictions and an undersupplied system forcing prices up at the front of the curve. Planned work on the Elgin Franklin field began at the beginning of the week which restricted flows into the Bacton SEAL entry point, whilst an issue arose at the Bacton entry point which curtailed 8.5mcm/day of flows into the terminal. Initially, the impact of these outages was offset by strong length in the system in the morning. However, the oversupply came off in the afternoon and the grid remained short for the remainder of the day, which contributed to the overall rise in prices by the end of the trading day. The following day, prices were pushed down with weak demand and surplus supply on the gas market, whilst losses on the Brent crude oil market pressured curve contracts.

 

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