| Gas | Power |
| Market Close | Market Close |
| Gas was bearish during Tuesday’s trading, ignoring increases on oil, coal, power and carbon markets. Warm weather and improved flows from Norway sent the system long, resulting in losses across the near curve. | A rise of over €1 in carbon helped to lift power contracts yesterday, with stronger coal and oil also a factor. Weaker gas limited upward movement on the near curve, while renewable levels were expected to be almost unchanged today. |
| Market Open | Market Open |
| The UK gas system is slightly undersupplied this morning but near curve prices have opened lower as overall supply fundamentals are healthy. Meanwhile, the back of the curve has found support from a rise in oil. | Bank holidays in Europe have reduced trading volume today, although the prompt displays a strong loss due to weak demand and a healthier renewable outlook. |
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Brent Summary Brent 1st-nearby prices have climbed to around $35.8/b this morning as oil markets have found support from lower production levels and decline in US crude stocks. 1-year forward prices Market close data has revealed that the 1-year forward price for commercial gas moved down, while commercial electricity recorded an increase – closing at 31.43ppt and £40.98/MWh, respectively. Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page. |
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