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.
Yesterday's high demand for gas, coupled with a fall in domestic production led to a tightening in the UK gas balance. As a result, high imports from the Netherlands and Belgium were required to balance the system.
While the demand for gas continued to increase yesterday, the drop in domestic production in the UK combined with a drop in Norwegian flows led to a tightened UK gas system. This resulted in high storage withdrawals to balance the system. Cold weather is expected to support European gas demand and prices today.