Apollo Energy publishes 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 how the markets are performing and also considers various factors which could dictate price changes in the future.
The analysis also contains a graph which tracks the one-year forward price of both gas and electricity as well as changes to Brent crude oil.
Gas prices moved higher yesterday afternoon, following an increase in coal and ignoring a slight drop in oil and carbon. The short-term weather outlook is rather mild for this time of year which should limit residential demand, while supply levels are very healthy, capping gains at the front of the curve.
Gas prices were slightly bearish throughout Wednesday’s session with most of the losses displayed on the far-curve, while spot prices were largely stable. An upward revision in temperatures restricted bullish movement on the near-curve, despite a rebound in oil, coal and carbon.
Gas prices continued to display a bearish trend during Tuesday’s session with high flows from Norway and record high LNG send-outs resulting in oversupply. Overall energy markets also weakened, applying further downward pressure to the far-curve.
Following a slightly bullish open, gas prices eased down by the end of the session, tracking movement across overall energy markets. Healthy supply levels also coincided with a drop in demand, resulting in a long system which added to the bearish pressure.
Far-curve gas prices moved down during Friday’s session and ended the week with an overall loss; a drop in coal and carbon helped towards the downward trend. However, spot prices were largely bullish due to the colder weather forecast.