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 contracts moved down during Friday’s session, finding direction from weaker oil markets and an oversupplied system. Strong winds prevented the arrival of new LNG send-outs but also reduced demand, while flows were almost unchanged.
Gas prices moved down yesterday, following coal and power markets, with a healthier supply/ demand outlook dictating UK markets. Prices found some support in the afternoon which curbed the losses but the overall sentiment remained bearish.
Gas prices initially opened higher yesterday but moved down as the session progressed and ended the day practically unchanged. Oil and carbon markets offered support, while a drop in LNG send-outs resulted in a short system.
19th February 2020 | Posted by: Lawrence Carson | Market Analysis
Difficulty unloading cargo in stormy weather at UK import terminals meant a further downward adjustment in LNG send outs, keeping spot prices in strong territory. Some contracts were overbought and gas fundamentals were largely bearish across Europe, meaning curve prices corrected downwards.
Gas prices displayed strong gains across the board yesterday, however, support was largely technical as traders tried to offload their short positions. Supply/ demand fundamentals were unchanged, while the broader energy complex only showed marginal changes.