Oil Underpins Bullish Energy Prices

Oil and carbon prices reach fresh highs pulling gas and power prices higher. Contract For Difference changes will bring additional costs for customers. 

Last week we saw oil and carbon prices reaching fresh new highs while pulling gas and power prices higher. Brent Crude Oil prices have also reached their highest point in nearly four years from the potential impact of new US sanctions on Iranian oil exports. Gas prices will continue to rise due to the extension of an unplanned outage at one of Great Britain’s gas storage sites. Moving away from the wholesale market, the National Audit Office found that Contract For Difference changes will bring additional costs for customers. The changes will prove to benefit smaller projects in the industry. 

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