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.
28th February 2020 | Posted by: Natalie Ormrod | Market Analysis
Gas prices continued to weaken yesterday, under pressure from falling coal, oil, power and carbon prices. Disruption to the LNG deliveries helped to push near curve prices higher, however selling pressure and weak oil and carbon prices saw the curve move lower.
Gas prices recovered slightly on Wednesday following new lows at the start of the session. An undersupplied system offered some support to the near-curve, as an expected drop in renewables today was likely to lift demand further.
Gas prices continued to move down yesterday with falling oil markets continuing to dictate the overall energy complex. Colder weather lifted heating demand but the system moved closer to balance as gas-fired power demand remained low due to ample renewable availability.
Gas prices decreased during Monday’ session, following falling oil markets as global economies took a hit due to fresh cases of the Coronavirus. The UK gas system was also undersupplied, offering additional support to the prompt and near-curve.