Wholesale #energymarketreport from #bcconsultants today - Gas: Current DA 64.35 p/th | Sept 13 64.00 p/th, o Yesterday, higher demand and moderate increase in Norway Langeled flows contributed to tighten the UK system slightly, which lent support to NBP spot and near curve prices. September 2013 prices increased by 0.11% at the close, to 64.000 pence/th. o The UK system is long this morning. But this seems to trigger a gradual fall in Langeled flows, which suggests the oversupply might not be sustainable. Therefore, we favour a stable outlook for September 2013 prices today. o TTF Endex September 2013 prices were also slightly higher yesterday: +0.14% at the close, to 25.600 EUR/MWh. o As on the NBP, we favour a stable outlook today. o By contrast, TTF Endex cal 2014 prices were lower yesterday as they were impacted by the fall in oil prices: -0.24% at the close, to 26.16 EUR/MWh. o We favour a slightly bullish outlook today as oil prices could be supportive.
Posted on: Wed, 21 Aug 2013 09:43:49 +0000
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