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 showed only minor changes during Friday’s session as the slide on global markets halted somewhat. However, further weakening can be expected this week with more and more preventative measure set to be implemented across the world.
European equity markets saw some of the biggest single day drops on record yesterday, transferring to commodity markets. Brent, coal and carbon all displayed strong losses which pressured down longer dated gas contracts, although the near-curve found some support from a healthy supply outlook.
Gas prices rebounded again yesterday afternoon with the exception of the prompt which was pressured down by a healthy supply/ demand outlook for today. The Front-Month contract climbed higher which filtered through to the rest of the curve, ignoring bearish sentiment on commodity markets.
Gas prices showed a slight recovery yesterday, following minor rebounds on commodity markets. Upward movement along the gas curve was limited by a milder weather outlook, although a slight drop in wind levels was forecast for today, increasing gas-fired power demand.
Yesterday saw the largest single day drop in the price of oil since the Gulf War in 1991 when the price of Brent Crude fell by 35%. This has pressured down energy and equity markets across the Globe with UK gas markets following suit, helped by a better supply/ demand outlook.