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.
A long system and milder weather helped near curve gas prices stabilise yesterday, with almost no change expected to temperatures today. Support was provided by an increase in storage withdrawals, while French nuclear issues continued to impact gas and power contracts. Movement further along the curve was minimal as oil prices stabilised and coal displayed a small drop, offsetting the effects of a weak Pound.
Gas price stabilised yesterday afternoon as a slight drop in demand levels was forecast for today. However, short-term forecasts point to below average temperatures and safety checks at French nuclear facilities provide on-going support to both markets. Further out, a drop in coal prices helped to weigh on some contracts despite another rebound on the oil market.
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Cold weather pushed near-curve gas contracts higher on Tuesday, with low nuclear availability in France also a factor, as extra gas-fired generation will be required to make up the shortfall. Meanwhile, bullish movement on the oil market eased in the afternoon, helping to erase some of the morning’s gains.