Energy Update for 30th January 2017
One day away from the end of the month and the end of dry January. A straightforward week to report today as prices fell across the curve.
Despite the cold weather during the week, warmer forecasts for this week and further on into February created a bareish energy market. This resulted in the gas system going long and prices were further suppressed by strengthening pound.
Looking forward, if the weather forecast remains benign then we might expect energy prices to remain soft. Of course currency fluctuations will have their parts to play. Looking at oil, we’re seeing an interesting conflict between the increase in output of U.S. shale oil as the price goes up, which in its turn has a downward effect on price.
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