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 UK gas system opened up trading a little short yesterday, but regained balance later in the day following a revision in demand. NBP spot and near curve prices ended the day slightly higher, but a lot lower than their intraday highs.
Throughout yesterday's session, UK gas fundamentals remained more or less unchanged. Weak demand and strong flows from Langeled, which reduced the reliance on storage withdrawals, pushed near curve prices down a little.
With temperatures expected to remain above average, we see no serious risks for the UK gas system over the coming days. The forecasts of colder weather from the middle of next week, along with the on-going Norwegian Troll outage, may actually help month-ahead prices stabilise.
Weak demand supported the UK system yesterday - helping it remain comfortable. At the same time, strong flows from Langeled helped to ease market worries about the extension to the outage on the Norwegian Troll A platform.