| Gas | Power |
| Market Close | Market Close |
| Movement on the gas curve was largely bearish yesterday despite most contracts posting gains at the opening of the session. An upward revision in temperatures and weakening coal and oil markets helped towards the downward trend. In terms of supply, several LNG deliveries are expected to dock in the UK over the next few days, resulting in a rise in send-outs, while news relating to the Rough storage site also weighed on contracts, read more here. | Power prices opened higher on Tuesday morning but decreased as the session progressed, with weaker, coal, gas and oil providing bearish pressure across the curve. Temperatures for next week were also revised higher but a weaker wind forecast for today offered some support to the prompt. |
| Market Open | Market Open |
| Gas prices have stabilised this morning following losses in the previous session as temperatures for next week were revised higher which will continue to weigh on the prompt. On the continent, Dutch supply is lower than yesterday and Russian exports via Ukraine are also down. However, Norwegian flows have hit a 3-week high and UKCS production has also improved. On the far-curve, contracts could find some support from increases on the oil market. | Power prices opened higher on Tuesday morning but decreased as the session progressed, with weaker, coal, gas and oil providing bearish pressure across the curve. Temperatures for next week were also revised higher but a weaker wind forecast for today offered some support to the prompt. |
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Brent Summary Brent 1st-nearby prices have rebounded this morning, rising back above $56.4/b with Reuters reporting high compliance figures in regards to OPEC and non-OPEC production cuts. Donald Trump’s latest speech was also supportive to oil prices, while increases in crude stocks are expected to be minimal. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 44.73ppt and £44.66/MWh, respectively. Today’s prices can also be found in an easy to read table on or ‘current UK energy price' page. |
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