The market has fallen in the prompt this morning with increasing gas in the system and the recent bubble tendency in commodities has seen some take profit.
The market this morning has taken a nose dive, with the prompt in the UK and France and Germany all coming off. June in the UK has fallen from a high of £30.60 to £29.60 and other months have fallen too. Summer 07 has been slow to trade this week (perhaps more at risk from an emissions fall than the Winters) and has traded at around £42. This is likely to be less on this mornings performance. Winter 06 gained £1 yesterday on bulls firming up due to oil and gas strength and a last minute hedge before Mondays emissions annoucnement, however, the market fell this morning with little trading but with offers well below the £64 mark seen yesterday and a £62 bid has just pulled, scared from being run over by a potentially collpasing market.
Oil is supporting the back end of the curve (and this is indirectly seen through gas prices) but if commodities are bashed (which is distinctly possible with the way that hedge funds have been buying metals oil and sugar) the market bump could be substantial. So we now wait for Monday and the subsequent fall out.
04 November 2005
Bears push market down on the back of gas, the run has been quite long lived and some will question when the bulls will return. read more...
20 October 2005
Bears back on mild weather low gas demand and a correction from the heavy buying seen in the previous two months. read more...
27 September 2005
Falling market looks to continue with all fundamentals responding to the break up of Winter 05 in both the gas and power markets and the resultant sell off. 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 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...
Confidence Returns to Market
Despite a continuation of cold conditions, confidence was seen returning to the market with a stabilisation of spot prices and comfortable system margins. There was some focus on the curve with seasonal contracts all reporting some gain on the previous weeks levels apart form Summer 13. read more...
20 December 2010
Despite a continuation of cold conditions, confidence was seen returning to the market with a stabilisation of spot prices and comfortable system margins. There was some focus on the curve with seasonal contracts all reporting some gain on the previous weeks levels apart form Summer 13. read more...
Weather continues to dominate
Tight margin concerns resulted in Spot prices reaching highs for nearly two years. The cold weather conditions were the driving force though supply issues compounded the situation. read more...
10 December 2010
Tight margin concerns resulted in Spot prices reaching highs for nearly two years. The cold weather conditions were the driving force though supply issues compounded the situation. read more...
Cold snap results in single highest gain since Jul-09
Prompt contracts responded to the expected cold spell forecast for this week with the Day Ahead contract (Baseload contract for Monday delivery) on Friday gaining £2.65/MWh – the single highest gain seen since July on this contract. This bullish sentiment did not feed through to the rest of the curve though. read more...
08 November 2010
Prompt contracts responded to the expected cold spell forecast for this week with the Day Ahead contract (Baseload contract for Monday delivery) on Friday gaining £2.65/MWh – the single highest gain seen since July on this contract. This bullish sentiment did not feed through to the rest of the curve though. read more...
Gains Seen Across the Curve
There was no sign of an early Christmas in the power market on Friday with a 'flurry' of trading resulting in gains across the power curve. read more...
21 December 2009
There was no sign of an early Christmas in the power market on Friday with a 'flurry' of trading resulting in gains across the power curve. read more...
Market forgets basic principles and panics!
It could be said that the market over reacted today in the prompt market with a price rally on the back of a £142 half hourly cash out price. read more...
02 October 2009
It could be said that the market over reacted today in the prompt market with a price rally on the back of a £142 half hourly cash out price. read more...
Oil Disruption Fears create Volatile Markets
The European Union provided details this week of its proposed ban of Iranian oil imports as the Union steps up pressure over the country's nuclear programme. read more...
20 January 2012
The European Union provided details this week of its proposed ban of Iranian oil imports as the Union steps up pressure over the country's nuclear programme. read more...
Prepare for the clash of OPEC & IEA
With less than a month to go until OPEC meets, the statements are beginning to fly: OPEC believe the oil market looks balanced while the IEA again are saying that high oil prices could harm fragile global economic growth. Let the battle begin! read more...
23 November 2011
With less than a month to go until OPEC meets, the statements are beginning to fly: OPEC believe the oil market looks balanced while the IEA again are saying that high oil prices could harm fragile global economic growth. Let the battle begin! read more...
Markets Still Jittery
Most markets reported further losses today on the back of underlying nerves about the ability of both Europe and the US to repay their debts. Oil, commodities and equities all reported losses. read more...
21 November 2011
Most markets reported further losses today on the back of underlying nerves about the ability of both Europe and the US to repay their debts. Oil, commodities and equities all reported losses. 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...
Latest Figures Show the extent of Oil Shortfall
Despite increased OPEC production, output fell short of pre-Libya crisis levels. With little sign of a resolution in Libya, oil supply remains under pressure and with OPEC yet to cover the shortfall it seems that strong oil prices are here to stay (well for a while anyway). read more...
15 April 2011
Despite increased OPEC production, output fell short of pre-Libya crisis levels. With little sign of a resolution in Libya, oil supply remains under pressure and with OPEC yet to cover the shortfall it seems that strong oil prices are here to stay (well for a while anyway). read more...
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