Wednesday 15 August 2018
The Energy Information Administration reported a surprisingly large build of 6.8 million barrels to U.S. crude oil stocks for the
last week and prices tanked. Brent for October shed $1.70 to close at a four-month low of $70.76 a barrel. The decline in the crude oil price along with lower coal prices weighed on UK gas futures as contracts declined by an average of 0.80p. UK gas demand was reduced due to a lower requirement for gas fired generation in the power stack and prompt prices eased by up to 1.30p.