 |
Louisiana Light • 4 days | 88.38 | +1.26 | +1.45% | ||
|
Bonny Light • 4 days | 90.15 | +1.75 | +1.98% | ||
|
Opec Basket • 4 days | 89.19 | +0.80 | +0.91% | ||
|
Mars US • 178 days | 77.26 | -1.51 | -1.92% | ||
|
Gasoline • 14 mins | 2.748 | -0.017 | -0.60% |
|
Bonny Light • 4 days | 90.15 | +1.75 | +1.98% | ||
|
Girassol • 4 days | 90.85 | +1.82 | +2.04% | ||
|
Opec Basket • 4 days | 89.19 | +0.80 | +0.91% |
|
Peace Sour • 12 hours | 77.05 | +0.28 | +0.36% | ||
|
Light Sour Blend • 12 hours | 80.10 | +0.28 | +0.35% | ||
|
Syncrude Sweet Premium • 12 hours | 87.05 | +0.28 | +0.32% | ||
|
Central Alberta • 12 hours | 77.45 | +0.28 | +0.36% |
|
Eagle Ford • 4 days | 80.33 | +0.28 | +0.35% | ||
|
Oklahoma Sweet • 4 days | 80.25 | +0.25 | +0.31% | ||
|
Kansas Common • 4 days | 74.00 | +0.25 | +0.34% | ||
|
Buena Vista • 5 days | 88.22 | +0.99 | +1.13% |
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UK Confident Its Energy Demand Will Be Met at All Times This Summer
The UK’s gas transmission and electricity system operators are confident that Britain will have sufficient natural gas and power supply to meet demand at all times during the period from April to September.
There is more than enough gas to meet demand this summer, National Gas said in its Summer Outlook 2024 report on Thursday, while National Grid Electricity System Operator (ESO) said in a separate report today that “We expect there to be sufficient available supply to meet demand at all times this summer.”
National Gas’ summer outlook found that summer demand in Great Britain is expected to be very similar to last year, with higher levels of gas being exported to Europe at the beginning of the period April-September.
However, this year National Gas expects a reduction in total volumes exported to Europe compared to last summer, due to the higher storage levels the EU already has in place.
The EU ended the 2023/2024 winter period with a record high level of gas in storage—at over 58% full—at the start of the refill season in April. This would make it easier for the European Union to reach in advance, again, its target to have storage at 90% full by November 1.
In the UK, National Gas expects that there is more than enough supply to meet British gas demand this summer. National Gas expects gas demand will be primarily met by supplies from the UK Continental Shelf (UKCS) and Norway, with the balance being secured from LNG.
In terms of power supply in the UK this summer, ESO said in its report that not only there will be sufficient available supply to meet demand at all times this summer, but there is room for exports to neighboring European countries if needed.
Minimum forecast generation is expected to be comfortably above summer peak demand, ESO said.
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By Charles Kennedy for Oilprice.com
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