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Supply will be tight this week

Close price: Prices cooled off a bit on Friday, after a dramatic run up over the week. This was more of a technical movement pattern, than one driven by fundamentals. Net storage injections are continuing momentum however, bringing some bearish news to close the week.

Opening price: Low liquidity makes market movements harder to gauge. Prices are slightly up on the near curve as the UK opens slightly under-supplied. Wind generation is really poor, making up just 2% of the energy mix, but is expected to increase through the day. UKCS planned outages will leave short term supply tight at times this week. LNG deliveries look positive with 5 cargoes now expected in the next few weeks, an increase from the expected two arrivals.