Temperature rise drives prices – Y Report

Temperature is going to be key in driving prices this week, according to Inenco’s Y Report. Revised forecasts of warmer weather mean demand is likely to fall slightly in the near future. On top of this, 3.5GW of French nuclear capacity is expected to come back online this week, which is likely to see export demand to France […]

Oil prices up and volatile – Y Report

Oil prices have been volatile over the last few weeks due to changes in supply and demand fundamentals looking forward. At the end of November, OPEC announced production cuts, which saw prices rise by as much as $10 (£7.87) to 18-month highs. This could continue, according to Inenco’s Y Report. The French nuclear situation looks ‘more optimistic’ as EDF has announced three reactors will be […]

Temperature driving gas and power – Y Report

The key driver for both gas and power this week is temperature. In contrast to last week, this week’s temperature is forecast to be above the seasonal average. This is likely to depress gas and power demand, according to Inenco’s Y Report. A recent lack of LNG has been pushing prices higher, although an expected cargo mid-week should increase supply over […]

Gas oversupplied but prices rise – Y Report

Gas prices are rising despite an oversupplied system, according to Inenco’s Y Report. This may be due to long-term concerns regarding the lack of planned LNG deliveries into the UK and issues at the Rough and Groningen facilities. Oil has also pushed up from $46/bbl (£36/bbl) at the start of the week to around $50/bbl (£39/bbl) following proposed production cuts […]

Gas oversupply continues – Y Report

Gas oversupply has continued this week due to strong flows from the UK Continental Shelf and Langeled through the weekend, according to Inenco’s Y Report. This is in part caused by LNG send-out rising to 40mcm compared to around 20mcm a few months ago. Tight power supply margins are forecast due to nuclear outages and renewable generation falling, said Energy […]

Gas prices hit seven-year low – Y Report

The gas price fell this week to nearly 20p per therm as a result of healthy gas and LNG flows into the UK. This is a low not seen since 2009, according to Inenco’s Y Report. Electricity prices also fell but not as significantly. The price of oil has fallen from about $50/bbl (£66.77/bbl) to nearly $46/bbl (£61.40/bbl), however tight […]

Gas flows into UK restricted – Y Report

This week has seen planned maintenance on the UKCS, which has seriously restricted gas flows into the UK, according to Inenco’s Y Report. Langeled flows have also reduced due to one of the biggest contributing fields reaching its quota for this year. Going forward Langeled flows will continue to diminish. LNG flows have been sparse […]

UK gas system tightens – Y Report

Unplanned gas outages on the UK Continental Shelf have reduced domestic supply and tightened the system, according to Inenco’s Y Report. However, this is likely to be mitigated by rising prices lowering IUK – the natural gas pipeline to Europe – demand. Unplanned outage at Hinkley Point B7 reactor means the nation’s total offline nuclear capacity is now […]

UK left with tight gas system – Y Report

Changes in Norwegian scheduling mean the UK is left with a slightly tight gas system this week. It isn’t forecast to return until around the 8th of August, according to Inenco’s Y Report. It states revisions to LNG schedules meant the expected daily send-out of 35mcm in August is now likely to be closer to 27mcm per day. […]

Rough storage offline until 2017 – Y Report

Centrica has announced the Rough gas storage facility will be offline from now until March 2017. Dorian Lucas, a trader at Inenco, said: “That’s going to have the effect of dampening prices during Q3 and Q4, where we would typically look to inject into the storage facility. “However, the big upward risk that’s going forward is going to be […]