|Market Close||Market Close|
|Gas prices displayed mixed movement during yesterday's session as contracts on the near-curve found support from weaker Norwegian supply which was caused by unplanned outages. In contrast, far-curve contracts decreased despite a jump in oil prices as traders corrected down from last week's strong gains.||Improved wind generation and a drop in demand levels led to losses on the near-curve yesterday. The rest of the curve was generally bullish with a rising gas market the main factor behind the increases, assisted by stronger Brent.|
|Market Open||Market Open|
|Norwegian imports to Europe are generally unchanged from yesterday's levels, while Russian supply also remains low. Improved wind levels should result in lower gas-fired generation, while an upward revision in temperatures across Europe should weigh on residential demand. However, a weak LNG outlook is the main market driver this morning with only one delivery scheduled in October, while stronger Brent is also a bullish factor.||Day-Ahead power has decreased this morning as a result of an improved wind generation forecast for the rest of the week, although gas-fired generation still remains relatively high. Movement on the rest of the curve is varied with a fluctuating spark spread and rising coal causing volatility.|
Brent 1st-nearby prices rebounded yesterday during the first of three meetings in Algiers between major oil producers, as traders await an agreement in regards to a cap on oil output; Brent currently trades at around $46.9/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity moved higher - closing at 41.30ppt and £44.51/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.