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 were generally stable on Friday with the morningâ€™s losses erased by increases on the power market in the afternoon. Bearish Brent helped to restrict some of the upward movement on the far-curve, while news regarding a potential rise in Russian flows to Europe also limited gains.
The majority of gas prices moved higher on Thursday as on-going issues regarding power generation offered support, with CCGT (Combined Cycle Gas Turbines) likely to make up the shortfall. A planned outage in Norway also helped to push contracts higher, while colder temperatures have been forecast for the start of November.
A cap on Gazpromâ€™s use of the Nord Stream pipeline could be lifted by the European Commission, allowing the Russian firm to bypass its current route though Ukraine and double its output to Europe.
Gas prices posted losses yesterday afternoon as a result of an oversupplied system and falling Brent. Planned maintenance in Norway failed to support the prompt, with a milder weather forecast for today and an expected drop in gas-fired power generation providing downward pressure.
A planned outage in Norway this Friday is set to last until the 3rd of November, restricting European imports by 25mcm and offering support to the near gas curve. Further support was provided by a colder weather outlook for the start of November, while gas-fired power generation remains high due to low wind production. Falling Brent did little to limit the gains further out as the Pound weakened against the Euro once more.