With supply disruptions provoking knee-jerk reactions and future LNG tankers reaching Europe's shore as uncertain as the British weather. ETD brings you the final year outlook (Quarter four) for Gas and Power prices in what may be a repeat of the 2010 cold snap, according to the Met office.
Going into what maybe one of the most volatile second quarter for the global economy since the crash of 2008. Energy Trader Daily publishes its first article on the global macro-economic to aid its readers in understanding, or at least appreciate, the complex environment that is the global market.
With equity markets posting multi-month lows both in Europe and across the pond, and financial markets worried about economic recovery, the energy markets have continued to lose ground.
As algorithmic and high-frequency trading continues to receive flack in some circles, algo trading may eventually become commonplace in gas and power futures once the level of liquidity in their respective markets reaches the level of oil.
The International Energy Agency announced they would release 60m barrels of oil on 23rd June, in response to the supply disruption from Libya. However, these actions to plug the cut in supply has done very little to market sentiment. If the IEA's intention was to reduce prices in the short or medium term, it looks to have failed. Global supplies may be back to levels seen in February, but the price of crude is still 12% above what it was when Libyan output was halted.
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| Brent | 118.07 $/bbl | |
| WTI | 95.58 $/bbl | |
| NBP DA | 66.35 p/th | |
| NBP MA |
65.15 p/th |
|
| NBP Summer 13 | 63.45 p/th | |
| UK Power BSLD MA | 47.30 £/MWh | |
| UK Power BSLD Summer 13 | 49.20 £/MWh | |
| France Power BSLD Cal 14 | - €/MWh | |
| Germany Power BSLD Cal 14 | 42.10 €/MWh | |
| Coal 2014 | 100.90 $/tonne | |
| Carbon EUA Dec 13 | 4.41 €/tonne |
