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 decreased yesterday with the stronger losses displayed at the front of the curve. Supply levels were healthy, offsetting a rise in demand, while the short term weather outlook is mild, contributing to the bearish sentiment.
Gas prices were pressured down by a significant drop in coal yesterday, with oil and carbon markets also displaying a loss. Mild temperatures helped to weigh on the near-curve, although a drop in Dutch flows via the BBL pipeline limited losses on the prompt.
Gas prices eased down yesterday afternoon, with the larger decreases displayed at the front of the curve. Milder weather is expected this month and supply levels are healthy; Norwegian and Russian flows are strong, in addition to numerous LNG deliveries expected to dock in the next few weeks.
Gas prices were stable-to-bearish during yesterday’s session with fuel markets weakening further and the system close to balance. A drop in wind levels lifted CCGT demand which reduced available supply but a milder weather forecast limited the impact, with a busy LNG outlook also providing resistance.