Market Insight and News
November began in bullish fashion as lower temperatures saw increased gas demand pushing the NBP Day-Ahead prices upwards. Whilst continuing volatility in supply margins on the UK power market saw further volatility on the day-ahead.
Whilst Day-Ahead power prices moved into negative territory they soon recovered on the forecast for colder temperatures and increased demand. As the month progressed an increased input of LNG coupled by a surplus in the system enabled the market to outweigh any bullish sentiment provided by increased demand. An increase in renewable output helped ease supply margins in the power market which in the interim helped ease the pressure on the day-ahead market, however, this was short-lived and prices soon surged upwards again. As November drew to a close the gas system remained heavily oversupplied after an influx of gas imports from Europe, however, unplanned outages in UK facilities saw gas prices recover.
Current Oil Prices
|ICE Brent||Jan – 17||55.67 $/bbl|
|ICE Gasoil||Nov -16||491.00 $/tonne|
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