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.
Gas prices increased significantly yesterday following an explosion at Baumgarten, a major natural gas hub in Austria. This news followed the shutdown of the Forties pipeline which could put UK supply levels in jeopardy over the coming weeks. Temperatures were also very cold in the UK, lifting LDZ demand, while outages in Norway reduced exports.
Gas prices surged higher yesterday afternoon following an announcement regarding the shutdown of the Forties pipeline which has halted North Sea oil and gas supply. Prices started and ended the session at a premium as cold weather lifted LDZ demand and Norwegian flows decreased due to unplanned outages.
Near-curve gas prices moved down on Friday as European temperatures were expected to be above average over the weekend, weighing on demand levels. Supply levels were also healthy in the UK, providing further downward pressure. Further out, contracts were supported by rising coal and oil markets, although a stronger Pound capped some of the gains.