Jump to navigation

Free Newsletter Modern Trader Follow

Main menu

  • Futures
    • Modern Trader Magazine
    • Commodities
    • Futures Mag Archives
    • ETFs
    • Financials
    • Forex
    • Managed Funds
    • Market Analysis
    • News
    • Options
    • Regulation
    • Technology
    • Trading Strategies
    • Education
    • Futures Op-Ed
  • Favorites
    • Alpha Pages Most Popular
    • Futures Magazine
    • Modern Trader Magazine
    • Most Popular
    • Slideshows & Lists
    • Special Topics
      • Alpha Hunters
      • Bad Boys
      • FINtech
      • High-Frequency Trading
      • Trader's Life
      • Trading Strategies
      • FUTURES MAG's 500th ISSUE
      • We asked traders
  • Traders
    • Market Data
    • Hot Charts
    • Interactive Charts
    • Trading Calendar
  • FINalternatives
  • Hard Assets
    • Home
    • Base Metals
    • Precious Metals
    • Rare Earth Metals
    • Commodities
    • Mining Investments
    • Slideshows
  • Modern Trader
    • Subscribe
    • Past Issues
  • All +
    • Follow Us +
      • FuturesMag
      • Newsletters
      • Facebook
      • Google+
      • Linkedin
      • Twitter
      • RSS Feeds
    • About Us +
      • About
      • Advertise
      • Contact
      • Contribute
      • Privacy Policy
  • !
Follow Futures          
       
more >>

We Asked Traders

We asked traders for their opinion on the launch of bitcoin futures

Sponsored Content

Trading

Equities.com launches unlimited trading via Tradier Brokerage, Transforming into a news & fintech portal

Featured Topics

more Commodities>>

Commodities

Energy demand steps back in play
Advertisement
more Volatility>>

Volatility

Volatility & opportunity in the energy sector
more Financials>>

Financials

Daily Price Action: E-mini S&P 500
more Options>>

Options

Trading Vertical Option Spreads

Advertisement

Europe faces polar vortex flip side as power prices slide

By Julia Mengewein, Bloomberg

January 31, 2014 • Reprints

Home Heating

Gasoil for delivery in February fell 3% this month to $916 a metric ton on ICE Futures Europe as of 4:34 p.m. London time. Germany is the largest European market for the home-heating fuel.

Meteorologists at MetraWeather, MeteoGroup U.K., MDA, WSI Corp. and DWD predicted warmer-than-normal weather in most of Europe next month. The U.K. will be cold, wet and windy next month, according to the Exeter, England-based Met Office. SMHI, a Swedish forecaster, sees a cold start to February for Scandinavia and northwest Europe, followed by wetter and milder weather from the second week.

Average temperatures across northwest Europe and the U.K. were 1.2 degrees Celsius (2.4 Fahrenheit) above the norm in December and 2.2 Celsius above average in January, according to WSI data on Bloomberg. The region will be 2.1 Celsius warmer than average in February’s first 15 days, the model showed.

Gas demand in the U.K. in January was 10% below the seasonal average of 306 million cubic meters a day, according to National Grid data compiled by Bloomberg. The volume of gas in storage in Europe narrowed its deficit to the 2009-13 average to 2.8 points on Jan. 16 from 4.7 percentage points on Dec. 31, according to data compiled by Bloomberg.

Trading Hub

“Prices do seem very bearish” for U.K. gas through this quarter, Trevor Sikorski, head of natural gas, coal and carbon at consultant Energy Aspects Ltd. in London, said in a Jan. 27 research note.

Gasoil inventories held in independent storage at the Amsterdam-Rotterdam-Antwerp trading hub surged to 1.95 million tons in the week to Jan. 16, the most in more than two months, according to data from PJK International BV, a researcher based in Breda, Netherlands.

Supplies of heating oil are ample as mild weather limits demand, Harry Tchilinguirian, head of commodity markets strategy at BNP Paribas SA in London, said on Jan. 28.

Output from German wind farms averaged 8,256 megawatts amid stormy weather in January, compared with the 12-month average of 5,563 megawatts, according to data from the Leipzig-based European Energy Exchange AG compiled by Bloomberg.

Record Wind

German wind power output is forecast to rise to a record 33,126 megawatts on Feb. 10, according to Bloomberg’s European weather model. The current record is 26,269 megawatts on Dec. 5, according to EEX data.

In the U.K., wind power output rose to a record 6,222 megawatts today, and was 55% above the one-year average of 2,242 megawatts across the whole month, National Grid data on Bloomberg show.

U.K. wind generation is forecast to average 4,409 megawatts through Feb. 14, Bloomberg’s model shows. In Germany, average wind power through Feb. 14 output is seen at 11,945 megawatts.

“Wind speeds will remain above normal across northern parts of Germany and France, with periods of particularly windy conditions at times during the week through Feb. 16,” Byron Drew, lead forecaster at MetraWeather, said in an e-mailed report today.

www.bloomberg.com

<<< previous
Page 2 of 2

About the Author

Copyright 2014 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Related Articles
Energy demand steps back in play
Crude shoulder season blues
Crude corrects on production pop, but demand side is looming
Oil risk factors rise
Refiners work overtime as crude inventories drop
Previous
Cold weather opening up options opportunities
Next
U.S. stocks pare losses as emerging currencies, copper decline
Related Terms
Bloomberg 5254Oil 4707energy 3807commodities 3439Energies 2981europe 463Natural gas 421gas prices 354heating oil 334BNP Paribas SA 224Weather 100Energy Aspects Ltd. 34Harry Tchilinguirian 21Gas demand 20polar vortex 5WSI Corp. 5National Grid 5European Energy Exchange AG 2PJK International BV 2Electricity prices 2power trader 2Trevor Sikorski 2AVU AG 1Energieunion GmbH 1Natural-gas stocks 1Frank Woskowski 1Deutscher Wetterdienst 1Ricardo Klimaschka 1Andreas Friedrich 1Byron Drew 1

Free Newsletter Modern Trader Follow

Main menu

  • Futures
    • Modern Trader Magazine
    • Commodities
    • Futures Mag Archives
    • ETFs
    • Financials
    • Forex
    • Managed Funds
    • Market Analysis
    • News
    • Options
    • Regulation
    • Technology
    • Trading Strategies
    • Education
    • Futures Op-Ed
  • Favorites
    • Alpha Pages Most Popular
    • Futures Magazine
    • Modern Trader Magazine
    • Most Popular
    • Slideshows & Lists
    • Special Topics
      • Alpha Hunters
      • Bad Boys
      • FINtech
      • High-Frequency Trading
      • Trader's Life
      • Trading Strategies
      • FUTURES MAG's 500th ISSUE
      • We asked traders
  • Traders
    • Market Data
    • Hot Charts
    • Interactive Charts
    • Trading Calendar
  • FINalternatives
  • Hard Assets
    • Home
    • Base Metals
    • Precious Metals
    • Rare Earth Metals
    • Commodities
    • Mining Investments
    • Slideshows
  • Modern Trader
    • Subscribe
    • Past Issues
  • All +
    • Follow Us +
      • FuturesMag
      • Newsletters
      • Facebook
      • Google+
      • Linkedin
      • Twitter
      • RSS Feeds
    • About Us +
      • About
      • Advertise
      • Contact
      • Contribute
      • Privacy Policy
  • !
images