British wholesale fuel costs rose on Monday morning as a strike on a few of Total’s North Sea oil and fuel platforms started, lowering provide, and as wind output remained low.

* Day-ahead fuel was zero.60 pence larger at 58.00 pence per therm at 0738 GMT

* Trader mentioned a strike on a few of Total’s North Sea oil and fuel platforms had lowered UK Continental Shelf flows, which was bullish for costs

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* Ongoing low wind output was additionally driving up gas-for-power demand, they added

* The Unite union mentioned 40 individuals had been on strike for 24 hours from 0500 GMT on Monday on the Alwyn, Elgin and Dunbar North Sea oil and fuel platforms

* As a outcome, there are 13 million cubic metres (mcm) much less receipts of fuel than normal into the NSMP St Fergus and Bacton Seal fuel terminals

* The UK fuel system is 5 mcm undersupplied with demand forecast at 179 mcm and flows at 174 mcm/day, National Grid information reveals

* Peak wind era is forecast at practically 2 gigawatts (GW) on Monday, falling to 1.three GW on Tuesday, Elexon information reveals

* Gas-for-power has been 56 mcm/d this month in comparison with 46 mcm/d in July 2017, mentioned Thomson Reuters fuel analyst Oliver Sanderson

* Low wind ouput is predicted to proceed into August

* In August, there might be a number of deliberate outages within the UK Continental Shelf, which can even be a bullish driver for costs

* The August contract was zero.70 pence larger at 57.85 p/therm

* In the Dutch fuel market, the August contract was up zero.15 euro at 22.00 euros per megawatt hour

* The benchmark Dec-18 EU carbon contract was zero.04 euro larger at 17.11 euros a tonne

Source: af.reuters.com/

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