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.
Movement on the gas curve was generally bearish yesterday, with little support provided by oil as markets were closed for American Independence Day. Supply levels were comfortable despite higher CCGT demand as LNG send-outs ramped up following several deliveries.
The UK gas system was short throughout yesterday’s session with exports to Europe at full capacity, while an outage at the Entry Segal pipeline also limited supply. A significant drop in wind levels was also expected to increase gas-fired power generation today. This weak supply picture resulted in gains across the curve, with bullish oil also a factor.
Gas prices displayed losses on Friday afternoon following a rise in Norwegian flows, resulting in an oversupplied system. The LNG outlook for this week is also healthy, further weighing on near-curve prices. Meanwhile, movement on the coal and oil markets was minimal, providing little support to the far-curve.
Eurelectric has provided its analysis on the various consequences which could be caused by ‘Brexit’.