Gas system long – DMR

The gas system is “comfortably long”, according to npower’s daily market report. It is forecast to end the day 15mcm long, which has led to softer gas prices, said Rodney […]

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By Priyanka Shrestha

The gas system is “comfortably long”, according to npower’s daily market report.

It is forecast to end the day 15mcm long, which has led to softer gas prices, said Rodney Johnson from the Optmisation Desk.

He adds: “Power is likely to follow suit when it gets going.”

Power demand remains in line with yesterday’s levels as slightly stronger wind and softer solar are forecast.

 

The LNG tanker Al Shagra is due to dock at South Hook on 3rd September and there are possibly four more vessels docking in the next few days.

Mr Johnson went on: “Yesterday we saw gas follow Brent down, with Brent softness resulting from a strong dollar and signs of healthy US crude inventories. Brent is currently trading around $48.60 (£37/bbl).

“The Euro is trading around 1.18 against the pound as Sterling has found strength on the back of positive UK consumer confidence data. In terms of economic data releases, US Crude inventory data is set to be released at 3:30 this afternoon.”