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.
Near-curve gas prices moved higher on Friday as two unplanned outages reduced UKCS production, while weaker Brent helped to weigh on contracts on the far-curve. Demand levels across Europe are also set to rise over the coming weeks which offered further support to prices at the front of the curve.
Gas prices erased the morningâ€™s downward movement in the afternoon with a colder weather forecast for next week offering support at the front of the curve. Meanwhile, Commodities were stable due to the Thanks Giving holidays in the US which resulted in minimal movement further along the curve. In terms of supply, UKCS production continued to improve as an outage was resolved but Norwegian flows were slightly reduced.
Winter gas contracts posted minor gains yesterday afternoon with nuclear power issues in France continuing to have an effect on the gas market. The Pound strengthened following yesterdayâ€™s Budget announcement and helped to restrict some of the upward movement, although unplanned outages supported prices on the near-curve.