Friday 12 October 2018
The energy markets have all switched direction this morning with crude oil, UK gas and power all trading higher. Brent crude for December delivery traded
below $80 a barrel briefly yesterday before settling at $80.24, but overnight trading in Asian markets has seen the global benchmark add 65 cents a barrel as stock markets there recover from sharp losses over recent weeks. Gas futures on the NBP have added up to a penny in early trading as sterling slips after hopes of a Brexit deal had supported the pound this week. UK gas demand is pitched at 178MCM for today and supplies are long by 9MCM, but prompt prices have yet to react.