Friday 2nd August 2019
The last fortnight of July saw a general softening of Annual gas and power prices. The spike up in July quickly corrected, with a correction not dissimilar to April, again demonstrating the extreme volatility of energy markets. At the time of writing, there has been a small upturn again, prompted by pressure on short-term as Western Europe experiences hotter temperatures ...
Tuesday 16th July 2019
The last fortnight has seen a dramatic upturn in gas and power wholesale prices. The short-term gas market has been under pressure due to reduced Norwegian flows, coupled with low renewable power generation. As such gas demand went to 70% above seasonal norms with net storage withdrawals seen in Europe, highly unusual for the summer.
Wednesday 3rd July 2019
The second half of June saw real volatility in the short-term markets which fed through to Annuals. The extreme weather fluctuations and power outages gave rise to quickly changing wholesale costs. Short-term power and gas went extremely low as renewable output picked up – a combination of windy and sunny conditions meant that both wind and solar generation was strong. However ...
Tuesday 18th June 2019
Gas and power markets have fluctuated in the first half of June, first pushed higher by sustained (relatively) cold weather and then by the threat of increasing crude oil. Markets then turned on bearish fundamentals.
Tuesday 4th June 2019
After a fairly benign fortnight for markets through the second half of May, there was a dramatic downturn at the end of last week. This was predominantly driven by a collapse in oil markets - around $10 / 13% came off Brent in 10 days. The bearishness here, as well as for coal and later carbon (as ‘No Deal’ became more likely ...