Apollo Energy publish a daily energy market analysis, focusing on the gas, power and oil markets, including a commentary on how the markets close and open. Our analysis provides insight on what is currently affecting the market and also considers various factors which could dictate price changes in the future.
The report also contains a graph which tracks the one-year forward price of both gas & electricity as well as changes to Brent crude oil.
Gas prices inched higher yesterday despite a healthy supply/ demand outlook in the UK and a long gas system. An unplanned outage in Norway may have offered some support to near-curve prices but the main market driver was on-going political tensions, as Gazprom cut imports into Ukraine due to lack of payment.
Gas prices displayed mixed movement during Tuesday’s session as demand levels decreased on the back of milder temperatures and Norwegian flows improved. However, concerns regarding the situation between Russian and Turkey have caused some market uncertainty. Ukraine also missed a pre-payment for future gas imports from Russia and supply into the country is set to be halted as a result.
Gas prices climbed higher yesterday following two unplanned outages in Norway, with further upward pressure coming from strong consumption levels. The outages in Norway are expected to take up to two days to resolve but a milder weather forecast should reduce demand levels, restricting the gains on some contracts.
Gas prices moved down towards the end of Friday’s session after displaying strong gains in the morning. Prices initially moved higher due to a strong demand forecast for the weekend on the back of colder temperatures. However, the system was oversupplied thanks to stable BBL flows and a rise in Norwegian imports, while LNG send-outs also remained healthy.
Gas prices displayed strong gains during Thursday’s session as temperatures are set to drop over the weekend, which will lead to a significant rise in demand. Production cuts at Holland’s largest gas facility also returned as a market driver later in the session.