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.
Unplanned Norwegian outages restricted flows into the UK yesterday, resulting in a short system, helping gas contracts move higher. A cold outlook for the end of March and the start of April also provided upward pressure on the near-curve. Meanwhile, another rise in oil prices offered support to prices at the back of the curve.
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Gas prices displayed little movement during Monday’s session as temperatures are expected to turn milder later in the week which will reduce residential demand. However, any downward movement was restricted by outages at Norwegian and UKCS facilities. Further out, the Pound strengthened against the Euro and coal prices weakened, offsetting the effects of rising Brent.
19th March 2018 | Posted by: Catherine Grand | Market Analysis
Gas prices came off quite after opening bullishly on Friday, but ultimately traded down by the sessions close. A sell off on the prompt saw 10p/th of value stripped, with long positions and improved renewables possible catalysts.
Gas prices moved down yesterday following an upward revision in temperatures for the middle of next week and the remainder of March. The system was also long throughout the session despite weak storage withdrawals and above average residential demand. Further out, a late rally in oil prices and a rebound on the coal market restricted bearish movement.