Energy Insight 2018 – Week 47

Your regular snapshot of the wholesale energy markets.

Near-term prices surged on both the NBP natural gas and UK wholesale power markets at the beginning of last week, as the increased risk of cold weather towards the end of November continued to propel contracts further up. The following day, the bull-run continued at the front of the market but contracts further out on the curve fell as coal and carbon declined. The weather continued to have an influence at the front of the market as prompt contracts continued to trade higher on Thursday, whilst session-on-session gains in Brent crude oil lifted longer-dated contracts. Adding further support to those contracts further from delivery was the weakness shown in the Pound due to political fallout following the release of the UK government’s draft EU withdrawal bill. After gaining support from her cabinet to push forward with the draft Brexit agreement text, Theresa May endured attacks from a number of MP’s both within her party and from opposition…read more

 

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