|Market Close||Market Close|
|Oil prices dipped in the afternoon, resulting in some losses on the far curve. The front of the curve found support from a rise in demand, with colder temperatures and additional home working contributing to higher residential consumption.||Healthy solar levels and milder weather were forecast for the coming days and wind generation should remain consistent, resulting in a strong loss on the prompt. Prices further out also weakened due to retracements on oil and gas markets.|
|Market Open||Market Open|
|UK gas prices have fluctuated this morning, with a drop in oil helping to weigh on longer dated contracts. Temperatures are also expected to sit above the seasonal norm at the start of next week, weighing on the near curve, although cold temperatures and high LDZ demand is expected for the majority of November.||Power prices are a mixed bag this morning, with some bearish sentiment provided by a slight decline in oil and a mild weather forecast for the next 4 or 5 days. A comfortable renewable generation outlook has also weighed on the prompt.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices trade around $41/b as prices have hit technical resistance levels, with markets unlikely to see any major rallies until after the US election.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas decreased, while commercial electricity increased, closing at 38.60ppt and £45.93/MWh, respectively.
Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.
Click graph to enlarge
If you would like to learn more about how Apollo Energy can help your business find the best deal on its gas and energy contracts then feel free to get in touch by calling us on 01257 239500 or using the form on our contact form.