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 climbed higher yesterday, with the larger gains displayed at the front of the curve. A colder weather outlook for the coming days offered support to the near-curve, however, a long system provided some bearish resistance. Further out, prices were pushed higher by carbon and oil markets.
Gas prices climbed higher across the curve on Wednesday, ignoring a healthy supply outlook and a weaker oil market. Instead, contracts found support from the expected cold stint and a rise in coal and carbon markets.
Gas prices climbed higher on Tuesday with the larger gains displayed at the front of the curve. A rise in coal and oil helped to lift prices, although an expected rise in wind generation weighed on the prompt as this should reduce demand for gas-fired power.
Gas prices climbed higher during Monday’s session with a short system offering support to the front of the curve. Meanwhile, the back of the curve was pushed higher by coal and carbon markets, while a delay to the Brexit vote caused the Pound to fall, providing additional bullish pressure.
Gas prices closed the week lower despite a small gain on Friday which was sparked by strengthening on the oil market. However, overall sentiment at the front of the curve remained bearish due to a healthy supply outlook as outages in Norway were scheduled to end over the weekend.