Last Wednesday prices were stable with very little movement on either gas or electricity in any time period
Apologies for the delay in sending this and the following updates.
Gas: The NBP day ahead contract gained yesterday, likely boosted by forecasts of demand rises of 8% for the next session. Wind forecasts were also expected to fall 30% over the same period. Temperatures are expected to drop over the rest of the week indicating potential demand for heating. This morning NBP prices are trading up on last nights close.
Power: Power prices largely gained throughout the curve yesterday, supported largely by market fundamentals. Far Curve contracts were further pressured by rising carbon prices. For price outlook, as of last nights close, please see the chart at the bottom of this email.
Crude: Oil prices fell to a 4-month low yesterday, mainly driven by demand concerns throughout the US and China. The IEA and OPEC are set to release their November reports next week, where all eyes will be focussed on demand.
Carbon (EU ETS): The ICE Dec-23 fell to €75.70/t yesterday. The contract is currently trading at €75.84/t at the time of writing.
Carbon (UKAs): The ICE Dec-23 rose to £42.95/t yesterday. The contract is currently trading at £42.97/t at the time of writing.