Electricity and Gas Weekly Market Update for 22nd June 2015
We are expecting quite a comfortable week for the energy market. With regards to supply, we are expecting to receive a LNG cargo which is the first was have seen for a few weeks. With regards to supply, temperatures are supposed to increase above seasonal norms, creating a slump in demand, exports also continue this week, which is again going to dampen our overall demand.
Moving to oil markets, there is a bit of pressure developing in the market because of renewed strikes in Yemen and on the other side of the globe, we’ve seen a tropical storm developing in the Gulf of Mexico which has been given a probability of 70% of developing into a hurricane which will cause disruption to US oil production.
We are expecting a large amount of short term contracts to close this month as energy prices reach ten month lows that replicate the market we saw in August last year. With the oversupply in the market this week we are expecting those historic lows to be tested.
For the consumer, this month and potentially the months to follow will be excellent times to place fixed price contracts, to take advantage of low electricity and gas prices. Syntegra offer a free electricity and gas tariff review to assess if you are getting the best price on the market and with our reverse energy auctioning platform, we are able to provide consumers with the best rates possible.
Click this link to for a graph showing the rolling month front of gas and electricity prices: Rolling Month Front
For more information on this service please contact our office on +44 (0)118 402 8520 or via e-mail at mail@syntegragroup.com.
