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Energy market updates

Release date:
30 April 2019
Highlights, insight and market commentary

Gas and power

May 2020

This update includes:

  • Covid-19: Following the unfortunate spread of the pandemic various control measures have been put in place, reducing European Gas & Power demand.
  • Record lows: Historically low winter gas prices
  • North Sea: Gas production remains strong
  • Storage: Historically high European levels

Previous market updates

Oil

May 2020

This update includes:

  • Brent is currently trading around $25/bbl, falling 65% since 6th Jan following the unfortunate spread of COVID-19.
  • Crude oil inventories have been building as supply has exceeded very low demand. 
  • On 20th April, the WTI May-20 futures contract reached -$37/bbl
  • OPEC+ agree unprecedented production cuts of 9.7mbd for May-Jun 2020
  • 1Q20 Refinery margins were the lowest since 4Q09

Previous market updates