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 stabilised across the curve on Thursday as trading on commodity markets was flat. The Day-Ahead contract was one of the few contracts to show a significant change, moving sharply down due to a surge in wind generation.
Gas prices strengthened during Wednesday’s session, with Front-Month in particular showing strong gains in the morning. Contracts eased down in the afternoon but the majority of the curve closed at a premium.
Gas prices displayed modest gains yesterday and reverted back to the new highs seen on Friday. Maintenance work in Norway is expected to reduce flows into Europe which offered support to the prompt. Meanwhile, prices at the Henry Hub pipeline in the US continued to rise, lifting global markets.
Gas prices were very bullish at the start of the session, hitting new highs in recent months but lost ground in the afternoon to end the session around Friday’s close. Prices were initially pushed higher by commodity markets, while short term fundamentals were generally stable.