|Market Close||Market Close|
|Near-curve gas prices displayed further losses yesterday as a result of a low demand forecast and healthy supply levels. Further along the curve, contracts were pressured down by losses on the oil market, while weakening coal also played a part.||Bearish fundamentals resulted in contracts across the curve closing at a discount on Thursday. A Healthy supply/ demand picture was the main market driver at the front of the curve, with an improved wind generation forecast for today weighing on the prompt. Meanwhile, strong losses on the coal and oil markets helped far-curve contracts shed from their price.|
|Market Open||Market Open|
|Gas prices are stable-to-bearish this morning as a fresh LNG delivery at South Hook has helped to weigh on contracts, with a further 4 deliveries expected in the UK before the end of the month. Demand levels also remain low due to mild weather and oil prices have decreased further, however, the losses were slightly limited by another drop in the Pound.||The bearish trend displayed by the power market this week has slowed down somewhat this morning. The mild weather forecast for the next few weeks continues to apply downward pressure at the front of the curve, while weaker fuel prices have contributed to decreases further out.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices rebounded yesterday following a drop of $4/b in previous sessions, on the back of a bearish EIA stocks report. Prices have stabilised this morning and currently trade just below $52.5/b but the overall sentiment remains bearish as traders await the announcement of a new OPEC strategy.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas climbed higher, while commercial electricity recorded a small loss – closing at 44.43ppt and £44.28/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.