It’s oil about Brent on the energy markets
The price of oil held the spotlight in the energy markets this week, suggests the new weekly Y Report from Inenco.
Matthew Osborne, Risk Manager at Inenco said: “This week has been really about Brent, the international oil benchmark and that’s shown the most sort of price activity.
“In fact it’s actually rebounded slightly and retraced some of its lows we’ve seen and this is partly because people are beginning to speculate that actually people have oversold it too much and that fall has been a bit too excessive.”
Recent activity at Didcot has “potentially provided some with a buying opportunity”, reckoned the analyst, especially if you’re on a flexible contract and can “take advantage of dips in the market”.
For those on fixed price contracts it’s worth taking a more “considered approach” on whether the market has changed direction “significantly”, Mr Osborne added.