2nd April 2013 | Posted by: Daniel Birkett | Market Analysis

There was a slight rise in spot prices with a higher demand from the US but continued Eurozone concerns meant the price didn't increase further. Continue reading for a more in-depth look at today's market prices.

How did the energy markets close?

Day-Ahead gas closed at 93.8ppt, a drop of 5ppt and the Easter weekend saw less industrial demand which led to supply levels improving. An increase in US demand led to Brent prices edging over $109.5/bbl but was limited due to Eurozone concerns and very limited supply levels saw Front-Month hit a record high of 74.9ppt. Day-Ahead Power lost £5.70/MWh and closed at £69.30/MWh due to a fall in prompt gas but despite the drop the current price is £20/MWh higher than it was a year ago. The far-curve showed seasonal power prices similar to gas as W-13 fell to £56.2/MWH a decrease of £0.55/MWh.

How did the energy markets open?

Day-Ahead gas dropped to 79ppt which is the lowest it has been for 2 weeks thanks to the improved supply level, with recorded LNG flows of 25mcm this morning in South Hook. Brent is also on the rise and was at its highest in 3 weeks opening at $111.03/bbl. Day-Ahead power was £10/MWh lower than it was before the Easter weekend and fell to £58.25; high winds and strong nuclear base load generation were the main causes for the decrease. APi2 coal prices currently stand below $80/tn as the market remains overabundant due to surplus shale gas in the US.

1-year forward prices

Market close data for 28/03/2013 has revealed that 1-year forward prices for commercial gas and commercial electricity both saw a rise- closing at 70.93ppt and £54.08 respectively. This can be seen in the graph below.

energy market analysis

Note: Brent Crude prices are taken from opening market data, and do not represent the price as it changes throughout the day.

Latest Brent Crude Oil prices

Brent prices were at their highest for 3 weeks and opened at $111.03/bl, a rise of $1.43/bl, a weaker US dollar and claims that there is a more robust demand for oil by the Saudi oil minister led to this rise in price.