Energy Insight 2018 - Week 34

Your regular snapshot of the wholesale energy markets.

Last week began with bullish trading across the curves of both the NBP natural gas and UK wholesale power markets as offshore production cuts due to strikes and outages drove contracts higher. Support towards the back end of the curve was provided by bullish carbon and coal futures.

On Tuesday, markets opened bullishly but ultimately the majority of gains were rubbed away due to a late oil sell-off and the recommencement of Total’s offshore assets, after strikes on the previous day. Midway through the week, increased supply and losses on oil, coal and carbon influenced a sell-off across the whole curve. Supply was boosted by the return of the Elgin-Franklin field and a rise in wind generation, which assisted to lower demand for the gas for power industry…

 

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