Last week in the energy market - 8 April 16
UK energy marketFalling oil prices, a positive weather outlook and a well-supplied gas system saw gas prices weaken early on in the week. But rising oil and currency changes pushed prices up as we headed into the weekend. These effects were particularly pronounced on forward contracts. The National Grid also announced that it expected to see higher gas consumption this summer than last year with more combined-cycle gas turbine (CCGT) generation predicted to push up demand. The electricity market also came under pressure with a low wind output and unplanned outages at a number plants. warned that even if member countries vote to limit production, it would not rebalance the market and could lead to falling prices. Whatever happens at the meeting, we can expect to see sharp movements on the market. Risk taking buyers are in a good position to gamble.
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