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 displayed mixed movement yesterday following an announcement by Centrica confirming that the Rough storage facility would be unavailable until May 2018 at the earliest, read more here. Comfortable supply levels provided some bearish pressure at the front of the curve, while stronger oil supported contracts on the far-curve.
The Rough storage facility will not restart injection operations in the 2017/18 storage due to safety concerns.
Near-curve gas contracts posted losses yesterday following a strong rise in Norwegian flows and a drop in storage withdrawals. The supply outlook is healthy despite cooler temperatures, with higher wind power resulting in a drop in gas-fired generation. Further out, the downward movement was restricted by a bullish oil market.
Gas prices decreased throughout Monday’s session as a result of stronger imports from Norway and healthy UKCS production, with a rise in demand levels having little impact. An increase in Russian imports resulted in comfortable systems across Europe, adding to the bearish sentiment, although oil prices remained supportive.
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