Manage your Energy Costs More Effectively with the Latest Energy Market Insights
2019 closed with power and gas prices continuing their bearish nose dive. Rather unusually for the winter season a series of factors conspired to deliver soft market conditions: mild weather, healthy gas pipeline imports, abundant LNG cargoes arriving into UK ports, high medium range gas storage levels and the last minute agreement of the new five year US$7 billion gas transit deal between Russia and Ukraine.
Not entirely surprisingly oil prices have experienced a bumpy few weeks. First Brent crude prices rose on the news that OPEC and other major oil producers had reached agreement to deepen production cuts by an additional 500,000 bpd through to March 20. Oil prices touched $66.00/bbl then rose again reaching an eight-month high after the US assassination of Iranian General Qassem Soleimani. Prices have now fallen back after a de-escalation of tension with the US occasioned by Iran admitting that it had accidentally shot down a commercial airliner belonging to Ukraine. Prices are currently at around the US$65.00 mark.
Monitoring your energy costs is vital to ensuring efficient usage of your overall budgets. Our energy reports provide a detailed overview of the energy market, giving you the insights necessary for making the best decisions possible.
Download the Energy Market Report today.
Please enter your email address to download this file.