Sign in to the Open platform for instant MIHere’s the latest Open Market Snapshot – the weekly update that keeps commercial buyers to up-to-speed with UK energy markets.

It’s just part of the Market Intelligence we publish every week, including our in-depth Open Market Report and the twice-daily market notifications available for every user of our Open platform.

Open Market Intelligence comes straight from our Performance Traders – it’s the same insight that backs our Open Performance Fund and helps our customers locate and secure the best energy contracts, no matter their buying type.

> Market Snapshot: 21 January 2019

Open Energy Market Snapshot

Currency: Sterling vs Euro

MS Sterling 20190121

Economics

  • Chinese 2018 GDP growth was 6.6% which is the weakest rate of growth in 28 years. Stock have generally been buoyed this morning by the potential for Chinese economic stimulus measures
  • The US federal government shutdown continues. The dollar and the US stock markets have risen over the last week regardless
  • Cross-party Brexit talks have failed and Theresa May is demanding more concessions from the EU. Sterling has fallen against the euro over the last two sessions

Brent Crude Evolution

MS Brent 20190121

Oil

  • The oil market backdrop continues to be set by the opposing forces of increasing US oil production versus OPEC production cuts
  • The potential for Chinese economic stimulus measures and continued strong Chinese crude demand are supporting oil prices at the start of the week
  • There has been a major escalation in Syria with Israeli planes currently bombing Iranian forces in the country after Syria shot a surface to surface missile into Israel
  • Trump continues to call for regime change in Venezuela (world’s largest oil reserves) and is leaving the military option on the table

UK Gas (Summer’19) – [indicative of the Power Market]

MS Summer Gas 20190114

Summer Gas 2019

Gas & Power

  • European gas storage levels are 10.5% above levels at the same time last year
  • There are 7 LNG tankers due into the UK by the first week of February as high volumes of LNG (compared to recent winters) continues
  • The two week temperature forecast shows conditions up to 4 degrees below seasonal normal levels across much of the UK during the period
  • Power prices are closely following gas prices

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And performance is key. We not only publish our seasonal results; we’re the only energy consultancy with independently verified historical performance in the energy consulting industry, we’ve outperformed the market for over two years.

Built by industry experts, with the input of energy users, the benefits are clear:

  • Access the wholesale energy markets through the Fund driven by performance
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  • 100% out-performance since the fund’s inception with all results Independently verified by a Top-25 City firm

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By | 2019-01-21T13:13:05+00:00 January 21st, 2019|Market Snapshot|