|Market Close||Market Close|
|Gas prices eased down yesterday as commodity markets weakened; oil prices decreased due to a rise in US crude stocks, while coal was pressured down by Chinese demand fears. However, low LNG send-outs and planned outages in Norway limited some of the losses on the near-curve.||Power prices were generally supportive yesterday as renewable output remains below the seasonal norm and humid weather continues to lift cooling demand. Wind levels were expected to be little changed today, while coal prices decreased, capping gains across the curve.|
|Market Open||Market Open|
|The UK gas system has opened long this morning but the overall trend on the gas curve is bullish due to a weaker short-term supply outlook and rebound in oil. Traders are optimistic that some of the tariffs placed on China by the US could be reversed, supporting global commodity prices. In other news, storage levels in the UK are starting to look more comfortable, resulting in higher exports to Europe.||Stronger gas prices have supported power contracts at the front of the curve this morning, while weaker coal and carbon have helped to weigh on the far-curve. The prompt has moved higher due to an expected drop in wind levels tomorrow, while a slight rebound on the oil market has had little impact.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices displayed a strong loss yesterday following the release of this week’s EIA report which showed an unexpected increase in US crude inventories last week; Brent currently trades around $70.8/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas increased, while commercial electricity displayed a small loss – closing at 61.74ppt and £60.10/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.