NEW YOUR WEEKLY ENERGY MARKET REPORT Welcome back to those who saw last week's report and welcome to all new visitors.To follow us and to read the detailed weekly report on energy intelligence click here
In this week’s energy market report, we can see how milder temperatures are having an effect on the UK gas demand. Last Friday brought milder temperatures than we have seen recently and an increase in the level of wind generation, the UK system was much more balanced as gas demand reduced to the seasonal average. Norway flow remained strong at 108mcm with LNG send out just shy of 70mcm.
The decrease in demand also meant that UK Storage withdrawals fell in line to match up with it. Wind levels have increased so far this week and make up around 12% of the current generation stack with renewable sources adding up to over a quarter of the total mix.
Brent Crude Oil prices are now attempting to recoup lost ground after there were losses of c. $7/bl last week due to the Coronavirus outbreak, which continues to spread and affect trade. The prices increased by 2.75% after opening yesterday morning.
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