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Gas: NBP contracts saw near term gains as they approached yesterday’s close. Seasonal average wind output and forecast drops in British gas demand are likely to keep prices bearish as we move through today. This morning the market opened wearily.
Power: Power contracts gained throughout yesterday’s session, supported by climbing carbon prices. Middling temperatures are expected to quell any need for cooling/heating demand. Please see the chart below for today’s price outlook, valid as of last night’s close.
Crude: Yesterday’s prices saw support, not only from declining inventory but from Chinese assurances to support economic rejuvenation. Further support was seen by market fundamentals coming from the US and UK.
Carbon (EU ETS): The ICE Dec-23 contract rose to €89.18/t yesterday. The contract opened at €88.82/t today and has since risen to €89.56/t at the time of writing.
Carbon (UKAs): The ICE Dec-23 gained yesterday, closing at £49.15/t. This morning, the contract has yet to trade at the time of writing. |
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