Planned and unplanned outages at Norwegian gas fields meant capacity was reduced, but with weather forecasts expected to be at seasonal normal or above, it doesn't seem to pose too much of a problem in the market.
Gas and electricity were both weaker yesterday with much of the action focused on the front couple of months. This morning the market has opened stronger, helped by a strong opening in carbon pricing.
After initially trading higher yesterday, the market shrugged off concerns of colder weather forecasts in Japan and potential feed gas issues into US LNG plants.
Gas and markets rallied yesterday as extreme cold weather in Texas curtailed some of the feedstock into LNG liquefaction plants prompting at least one LNG operator to call Force Majeure on cargoes.
After initially trading higher yesterday, prices fell later in the day, reflecting below seasonal-normal demand in the UK and the expectation of higher wind generation for the next couple of weeks.
Last week saw gas markets soften particularly at the front of the curve as weather models found some common understanding that cold weather was due to come to a halt at the end of the week. https://www.brookgreensupply.com/insight/weekly-energy-market-update-15-02-2021
See this weeks #energy market update - "Last week saw #carbon take the limelight as the #commodity rose a whopping €5.25/tonne" https://www.brookgreensupply.com/insight/weekly-energy-market-update-08-02-2021
As forecasts increased their certainty around colder weather next week, prices traded higher over the course of the day yesterday - with both gas and electricity showing gains down the curve. #energy
The market sold off quite aggressively in early trading yesterday, but by mid-morning rallying, carbon prices supported gas and electricity. #energytwitter
Markets were stronger yesterday with carbon the leader on the day. Gas and electricity followed suit and despite some weakness towards the end of the trading session, they finished the day in positive territory. #energytrading
In this week's #energymarket update - "A volatile week across the energy complex eventually saw contracts dropping lower, although not without some fight." https://www.brookgreensupply.com/insight/weekly-energy-market-update-01-02-2021
Initially, today was another strong open as we come to the end of the month, but the weather will really determine where prices go next. #energytrading #EnergyTwitter