Prices continued to be calm on Monday with very little movement
|Gas: Prompt and front month prices were supported by unplanned outages yesterday. Further support was granted by a forecast 20% day on day drop in wind output. Port data indicates that the UK should expect 5 LNG vessels by 5th November, 3 more than the same time last year. |
Power: Power contracts largely mirrored their NBP counterparts yesterday. Additional pressure was placed on contracts out on the curve by falling carbon prices. For today’s outlook, as of last nights close, please see the table below.
Crude: Oil prices dipped yesterday. As hostilities in the Middle East look to be contained at present, the pressure applied eases. Market caution remains however ahead of interest rate decisions by the US federal reserve today.
Carbon (EU ETS): The ICE Dec-23 fell to €78.72 yesterday. The contract is currently trading at €78.51/t at the time of writing.
Carbon (UKAs): The ICE Dec-23 closed at £37.55/t yesterday The contract is currently trading at £37.94/t at the time of writing.