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 eased down during yesterday’s session as the UK gas system was oversupplied and oil contracts decreased in value. Improved wind levels reduced CCGT demand, while warm temperatures kept LDZ demand low. Russian flows into Europe also increased, helping to weigh on markets across the continent.
Gas prices moved higher on Monday with the larger increases displayed at the front of the curve. Fundamentals were little changed from last week, although wind levels improved, weighing on CCGT demand. Meanwhile, oil posted a small gain and the Pound weakened, providing bullish sentiment to the curve.
Gas prices were slightly bearish on Friday with little support provided by fuel markets. Improved renewable levels were expected over the weekend and the start of this week which will weigh on CCGT demand, helping the prompt move down.
Gas prices moved down across Europe as the overall energy complex was bearish. Warm temperatures are set to continue over the coming weeks which will keep residential demand low, while a slight increase in wind levels weighed on CCGT demand.
Gas prices were bullish at the start of Wednesday’s session but fell sharply in the afternoon and ended the day almost unchanged. Support was provided by the oil market but a balanced system and an expected drop in CCGT demand today helped prices at the front of the curve move down.