Energy Market Update 12/11/2024

Welcome to our weekly energy market update, where we share the latest trends, shifts, and key developments impacting the energy sector. Whether it’s fluctuations in oil and gas prices, changes in renewable energy policies, or updates on energy infrastructure projects, we’re here to help you stay informed. Join us as we break down the most important factors influencing the market this week, and explore what these changes could mean for your business.

Current Market Drivers:

🤝 Concerns continue over tensions in the Middle East, with Hamas rejecting the most recent ceasefire deal. A Trump presidency could embolden Israel and lead to more aggressive action against Iran.

🌏 North West shelf, an Australian LNG (Liquified Natural gas) facility will be shutting down 3.4bcm worth of capacity in the first quarter of 2025.

💡Negative intraday electricity prices in Europe, driven by renewable energy oversupply, are expected to cause a slowdown in wind and solar installations over the next 5 years.

💷 Trump’s recent victory in the US elections is offering greater prospects for increased LNG exports to the EU. However, there is a threat for high tariffs.

💨 UK’s 1st onshore wind proposal in a decade could become the UK’s largest onshore wind farm, adding 100MW to an existing site. This offers positive sentiment for further projects as well.

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