Weekly Energy Market Review – 6th-10th September
Power
Power prices continued to rocket higher throughout last week, reaching fresh, record highs. Markets continued to find support from rising carbon markets, while supply and storage fears for the winter period were also significant contributors.
Week Starting Price (Year-Ahead): £107.99/MWh
Week Ending Price (Year-Ahead): £113.68/MWh
Gas
Gas displayed the same trend as power, pushed upwards by weak storage levels in the UK and across Europe. Maintenance at North Sea facilities also reduced flows, adding to supply worries. Bullish global equity markets were also a factor.
Week Starting Price (Year-Ahead): 106.22ppt
Week Ending Price (Year-Ahead): 112.92ppt
Commodities
Oil markets have showed some strengthening but are relatively stable compared to gas, carbon and power markets. Fundamentals saw little change over the course of the week, with a weaker US Dollar continuing to offer support.
Brent Crude Week Starting Price: $72.20/b
Brent Crude Week Ending Price: $72.01/b