Technicals look to be holding the Winter 06 baseload contract above £60 but players must be aware that technicals are working because the world cup has quitened down some the incumbent players and as long as the market jobs around no one will worry.
It has been stated recently that when some fundamental market is missing then traders tend to look at technicals. There is no doubt that the fact that Winter 06 has not traded below £60 for some while is because it is seen as a technical level which the market is unlikely to push through. No news has made the bears have a go at this mythical level and recently we have seen trades below £61 beginning to look at testing the market. It has not reached it, and traders have therefore bought it back up today with the market settling back to a £61-£62 range.
The question is when England are knocked out of the World Cup will the traders regain focus and start to buy back in the market. Both emissions and gas prices have remained reasonably stable, and perhaps it is no surprise that they are also suffering from the World Cup effect.
No real reason to stress, but if England are knocked out on Saturday be prepared for the market to liven up, watch for a fall in the market below the £60 mark and remember that many of the retailers will be looking to buy Winter 06 below £60.
17 August 2005
Traders have to remember what selling is, the fundamentals point to some selling but the traders seem reluctant! read more...
05 August 2005
Steady and boring means that it isn't going up and if anything looks more likely to test some of the longs who may be forced to take some profits as carbon, oil and gas all look soft. read more...
27 June 2005
"The most valuable commodity I know of is information." Wall Street read more...
27 May 2005
Prompt no longer the driving force, as the curve diverges. read more...
Warm weather weighs heavy on prices
Unseasonably warm weather and European debt crisis fears continued to influence the markets at the start of 2012. While oil did open the year up on the back of strong economic data from both the US and China, it retraced its steps on surprise US stockpile data combined with the Euro debt fears. read more...
06 January 2012
Unseasonably warm weather and European debt crisis fears continued to influence the markets at the start of 2012. While oil did open the year up on the back of strong economic data from both the US and China, it retraced its steps on surprise US stockpile data combined with the Euro debt fears. read more...
November 2011 Review
While debt repayment concerns combined with woeful economic indicators continued to be a feature throughout November, supply and demand fundamentals were an obvious driver too. Unseasonably warm weather combined with (and causing) plentiful gas storage meant that UK power and gas markets went into a nose dive. read more...
02 December 2011
While debt repayment concerns combined with woeful economic indicators continued to be a feature throughout November, supply and demand fundamentals were an obvious driver too. Unseasonably warm weather combined with (and causing) plentiful gas storage meant that UK power and gas markets went into a nose dive. read more...
Plunging Prices Impact UK Energy market
Oil markets were described as 'plunging' as fears escalated over the Greek debt crisis. With the dollar/euro exchange rates under pressure oil lost value pulling down NBP gas and UK power prices too. read more...
17 June 2011
Oil markets were described as 'plunging' as fears escalated over the Greek debt crisis. With the dollar/euro exchange rates under pressure oil lost value pulling down NBP gas and UK power prices too. read more...
Downward Trend Still in Play
Most contracts in the UK energy markets continued to lose ground this week enforcing the downward trend that has been in play since the start of the month. The Winter 11 contracts closed the week at £57.60MW/h and 68.85p/therm. read more...
13 May 2011
Most contracts in the UK energy markets continued to lose ground this week enforcing the downward trend that has been in play since the start of the month. The Winter 11 contracts closed the week at £57.60MW/h and 68.85p/therm. read more...
A Market Correction?
Losses were seen in the UK energy markets this week despite oil gains. This was the first sign that gas was decoupling from oil with suggestions in market implying that the recent gains had been ‘over done. read more...
08 April 2011
Losses were seen in the UK energy markets this week despite oil gains. This was the first sign that gas was decoupling from oil with suggestions in market implying that the recent gains had been ‘over done. read more...
Energy Forward Prices continue to gain ground
Despite market participants describing the market as stagnant and directionless, energy forward prices continue to gain ground. Winter 11 power closed the week up at £59.65/MWh while NBP Winter 11 gas finished at 72.20p/therm. read more...
10 June 2011
Despite market participants describing the market as stagnant and directionless, energy forward prices continue to gain ground. Winter 11 power closed the week up at £59.65/MWh while NBP Winter 11 gas finished at 72.20p/therm. read more...
The Market in April 2011
In comparison to the activity seen in March – the energy markets seemed relatively sedate shedding some of the value along the way. read more...
28 April 2011
In comparison to the activity seen in March – the energy markets seemed relatively sedate shedding some of the value along the way. read more...
Carbon Floor Price Announcement: The Market Reacts
The tensions seen in the markets last week, as participants assessed the impact of Japan and nuclear withdrawal in Germany, appeared to have eased when the market started trading on Monday. The Government's mid week budget Carbon Floor Price announcement soon changes that though read more...
25 March 2011
The tensions seen in the markets last week, as participants assessed the impact of Japan and nuclear withdrawal in Germany, appeared to have eased when the market started trading on Monday. The Government's mid week budget Carbon Floor Price announcement soon changes that though read more...
Crude Oil Breaks Through $110bbl
Unfolding news in the Middle East continued to dominate the UK energy markets this week. When crude oil prices broke through $100bbl at the start of the month, the impact was noticeable on UK gas prices and Power prices in turn. Winter 11 power and gas closed the week at £55.75/MWh and 67p/therm respectively. read more...
04 March 2011
Unfolding news in the Middle East continued to dominate the UK energy markets this week. When crude oil prices broke through $100bbl at the start of the month, the impact was noticeable on UK gas prices and Power prices in turn. Winter 11 power and gas closed the week at £55.75/MWh and 67p/therm respectively. read more...
New White Paper highlights need for Energy Risk Management
Yesterday, npower launched its new white paper, commissioned from the London School of Economics on Energy Risk Management for UK business. The paper comes on the back of research that suggests that UK businesses now feel that energy presents a higher level of risk to their business than health and safety and security issues. But what should businesses be doing to manage the risks? read more...
11 November 2010
Yesterday, npower launched its new white paper, commissioned from the London School of Economics on Energy Risk Management for UK business. The paper comes on the back of research that suggests that UK businesses now feel that energy presents a higher level of risk to their business than health and safety and security issues. But what should businesses be doing to manage the risks? read more...
Shale Gas - Latest UK estimates suggest enough for next 11 years
Cuadrilla Resources, the company at the forefront of Britain's Shale gas exploration released its first estimates of the amount of shale gas contained in the rocks of Lancashire. At 200 trillion cubic feet, the estimates are significant to say the least. read more...
22 September 2011
Cuadrilla Resources, the company at the forefront of Britain's Shale gas exploration released its first estimates of the amount of shale gas contained in the rocks of Lancashire. At 200 trillion cubic feet, the estimates are significant to say the least. read more...
2nd Quarter Growth at 1.1%; What Role For Energy
Preliminary figures from the Office for National Statistics (ONS) suggests the UK economy grew by 1.1% in the second quarter, up from the previous quarter's 0.3%. While the figures are preliminary (and based on around 40% of the ultimate data), what they do show is that construction, a relatively small part of the economy, contributed significantly to this growth figure. With 6 out of 10 civil engineering firms looking to the energy and water sectors for their income streams, it seems energy has a role to play in underpinning the recovery. read more...
23 July 2010
Preliminary figures from the Office for National Statistics (ONS) suggests the UK economy grew by 1.1% in the second quarter, up from the previous quarter's 0.3%. While the figures are preliminary (and based on around 40% of the ultimate data), what they do show is that construction, a relatively small part of the economy, contributed significantly to this growth figure. With 6 out of 10 civil engineering firms looking to the energy and water sectors for their income streams, it seems energy has a role to play in underpinning the recovery. read more...
Green Investment Bank still a Concept
Leading figures from across industry warned that the need for new tools to finance future investment in infrastructure are necessary to secure Britain's growth as a low carbon economy. While the coalitions Green Investment Bank (GIB) is supported, it is important to recognise that it is still at present only a concept. read more...
16 July 2010
Leading figures from across industry warned that the need for new tools to finance future investment in infrastructure are necessary to secure Britain's growth as a low carbon economy. While the coalitions Green Investment Bank (GIB) is supported, it is important to recognise that it is still at present only a concept. read more...
Suddenly it's "British Petroleum"
A name not used in a very long time, but suddenly the US are quick to refer to BP by its old name of British Petroleum, hoping perhaps to distance itself from blame regarding the disastrous oil spill in the Gulf of Mexico. But as the US announces a criminal investigation and as BP shares suffer further should the British economy concern itself? read more...
02 June 2010
A name not used in a very long time, but suddenly the US are quick to refer to BP by its old name of British Petroleum, hoping perhaps to distance itself from blame regarding the disastrous oil spill in the Gulf of Mexico. But as the US announces a criminal investigation and as BP shares suffer further should the British economy concern itself? read more...
A Week for Releasing Figures
With the political debate heating up; more 'head to heads' scheduled and with the News Channels pouring over polls, polls of polls and more polls - then the economic figures coming out this week are surely going to add a lot more ingredients to the boiling pot. read more...
20 April 2010
With the political debate heating up; more 'head to heads' scheduled and with the News Channels pouring over polls, polls of polls and more polls - then the economic figures coming out this week are surely going to add a lot more ingredients to the boiling pot. read more...
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