Friday Energy Update 17/11/23

Minor decreases continued into the weekend with minor increases occurring from the beginning of this week and a drop off today. Further decreases came from a bearish Carbon Market, along with strong LNG supply and steady Norwegian flows.

Increases occurring from US LNG supply fears. Gulf Pipeline flows dropped by 54% which caused concern as to possible further disruption to US LNG Export on Tuesday.

Further increases attributed to rising domestic demand. The market went down today on the back of a further slump in oil and carbon prices.

In other news:

The EU have approved a resolution which will close their Markets and prevent shipments of Russian Oil and LNG exports going through their territory. This includes volume caps on Russian fertilisers and banning the cutting of Diamonds originating from Russia.

Good news – the Tamar Field in Israel has resumed supply from the suspension on the 9th October due to the conflict.

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Increases occurring from US LNG supply fears. Gulf Pipeline flows dropped by 54% which caused concern as to possible further disruption to US LNG Export on Tuesday.

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We are currently saving our clients, up to 60% on their utility bills. Please feel free to contact our Business Efficiency Team, on 01273 424904. So, we can provide you with recommendations around reducing your energy costs.

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