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.
The National Grid will target net zero carbon emissions by 2050 following a recent revision. The Grid initially set itself a target of a 70% reduction by 2030, followed by an 80% reduction by 2050.
Gas prices moved higher yesterday afternoon, following an increase in coal and ignoring a slight drop in oil and carbon. The short-term weather outlook is rather mild for this time of year which should limit residential demand, while supply levels are very healthy, capping gains at the front of the curve.
Gas prices were slightly bearish throughout Wednesday’s session with most of the losses displayed on the far-curve, while spot prices were largely stable. An upward revision in temperatures restricted bullish movement on the near-curve, despite a rebound in oil, coal and carbon.
Gas prices continued to display a bearish trend during Tuesday’s session with high flows from Norway and record high LNG send-outs resulting in oversupply. Overall energy markets also weakened, applying further downward pressure to the far-curve.