May 21 Brent is down $0.78/barrel as official data highlighted US crude and fuel inventory rises whilst pauses to Oxford-Astra Zeneca vaccine rollouts in some countries and supply issues in others, is putting strain on-demand recovery expectations.
May 21 Brent is up $0.63/barrel as demand worries persist with a series of European countries suspending vaccinations using Astra Zeneca’s product due to some reported cases of blood clots.
Forecasts of high wind levels for the next 3-4 days led to a fall in gas demand to well below seasonal norms, with wind contributing 33% of generation to the grid this morning.
This morning markets have opened slightly weaker in what can only be described as a lackluster start to the day. All eyes will be on what Rishi Sunak has to say in the budget this afternoon. #budgetday
Planned and unplanned outages at Norwegian gas fields meant capacity was reduced, but with weather forecasts expected to be at seasonal normal or above, it doesn't seem to pose too much of a problem in the market.
#energymarketupdate#Norwegianouttages#gasprices
Gas and electricity were both weaker yesterday with much of the action focused on the front couple of months. This morning the market has opened stronger, helped by a strong opening in carbon pricing.
#energymarketupdate#carbonpricing#enerymarketreport
After initially trading higher yesterday, the market shrugged off concerns of colder weather forecasts in Japan and potential feed gas issues into US LNG plants.
#energymarketupdate#LNGcargoes#EUAprice