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: 11 February 2019

Open Energy Market Snapshot

Currency: Sterling vs Euro

MS Sterling 20190211

Economics

  • The latest round of US-China trade talks has begun in Beijing with a deal in doubt.
  • There is the potential for a new government shutdown in the US as border wall talks break down.
  • Theresa May has reopened talks with the EU over the Irish backstop, but progress seems unlikely. Sterling remains relatively flat against the euro at circa 1.1406

Brent Crude Evolution

MS Brent 20190211

Oil

  • Uncertainty around Venezuela continues to create a bullish oil market backdrop. The country is under US sanctions and the threat of US military action.
  • The Baker Hughes weekly rig count in the US shows the third weekly build in a row with 7 rigs added last week, after 10 rigs were added the previous week.
  • A stronger dollar due to its economic safe haven status is helping to keep oil prices in check.

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

MS Summer Gas 20190211

Gas & Power

  • The 2-week temperature forecast has been revised notably higher since late last week, with temperatures up to 3 degrees above seasonal normal levels in the UK for the duration
  • There are 7 LNG cargos expected into the UK in the next 4 days as the wave of LNG arriving in the UK continues.
  • European gas storage levels are over 15% above levels at the same time last year.
  • Power prices are closely following gas prices.

The insight that powers our Open Performance Fund’s market-beating results

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http://info.openener.gy/performance-tradingWe developed the Open Performance Fund as a new route to flexible energy contracts. It’s a simple model that targets performance, sharing the savings with our customers. A growing number of fund members have confidence in our risk-managed approach as well as our constant performance.

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
  • Our Fund members have confidence in published results and live tracking through the Open platform
  • Our unique shared savings structure keeps the emphasis on performance and the benefits for energy buyers
  • 100% out-performance since the fund’s inception with all results Independently verified by a Top-25 City firm

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By | 2019-02-11T16:14:03+00:00 February 11th, 2019|Market Snapshot|