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 failed to display a clear trend yesterday with colder temperatures resulting in an increase in storage withdrawals to help meet heating demand, supporting some contracts on the near-curve. Further out, contracts weakened following downward movement on coal and oil markets.
Movement along the gas curve varied on Tuesday, with a well-supplied system and mild weather applying bearish pressure to some contracts on the near-curve. However, a drop in wind generation today was expected to lift CCGT demand, restricting some of the losses. Meanwhile, weaker coal prices contributed to small decreases at the back of the curve.
Far-curve gas prices inched higher on Monday, finding support from bullish movement on coal and oil markets. However, the majority of contracts at the front of the curve displayed losses, helped by mild weather and improved Norwegian supply which led to a long system.
Gas prices recorded mixed changes on Friday with a long system and a mild weather forecast helping towards losses on the near-curve. Further out, contracts were dictated by rising oil and gas prices, although a stronger Pound provided some resistance.