|Market Close||Market Close|
|Spot prices managed to recover on Thursday as buying interests re-emerged despite weaker supply/demand fundamentals and milder weather expectations for Europe. The main driver, oil, and an attack on an Iranian oil tanker in the Gulf near Jeddah.||Prices for power remained weak in spot markets across Europe and the UK on Thursday. Curve contracts were lifted by a jump in feedstocks, driven by the attack on the Iranian oil tanker.|
|Market Open||Market Open|
|European gas prices are expected to get support from a sharp increase in both EUA and oil prices. Gas is trading higher on most contracts this morning on the back of continued geopolitical concerns relating to oil.||This morning, spot prices are forced lower by bearish fundamentals. On the contrast, curve prices are being boosted as the fallout continues with all markets trading higher.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
As expected, improvements on the China-US trade talks have pushed Brent 1st nearby prices to the upper bound of $55-60/bbl range.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 49.65ppt and £52.40/MWh, respectively.
click to enlarge image.
Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.
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.