Spot prices fell yesterday as demand is thought to be lower over the weekend with temperatures set to improve. Lower clean coal and gas costs have also had an effect on Calendar-2014 baseload prices which have also gone down.
How did the energy markets close?
A long system helped Day-Ahead fall to 66.9ppt despite reduced Norwegian flows, the interconnector was switched to export mode and the NBP/Zeebrugge WD spread was at 0.55ppt. On the Far-Curve the front month and front quarter contracts made gains averaging around 0.1ppt as the gas curve displayed no real trend. Day-Ahead power saw a rise of £1.15/MWh yesterday which led to the spark spread widening to around £3.10/MWh, outages at Didcot and Tilbury are a possible cause for the gain. There was little movement further along the curve except Quarter-13 which went up by £0.45/MWh to close at £53.85/MWh.
How did the energy markets open?
The system opened at 33mcm long before eventually slipping to 20mcm as trading commenced which led to Near-Curve prices making slight losses. Most contracts fell as they followed the direction of Brent which opened at $102/bbl as crude stocks have seen an increase of 4.4m barrels. July-13 fell for the second session in a row and opened at £48.55/MWh due to a forecast of improved temperatures. The rest of the curve also encountered losses, following their gas counterparts. The Dutch interconnector is currently set to export mode and the French interconnector was at 4%.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity made gains - both closing at 68.11ppt and £52.05/MWh, respectively. This can be seen in the graph below. 
Note: Brent Crude prices are taken from opening market data, and do not represent the price as it changes throughout the day.
Latest Brent Crude Oil prices
Brent 1st nearby prices made a significant loss today due to the currently over-supplied market. Forecasts from the Bank of America have revised future prices down, from 111$/b to 103$/b for 2013 and from 112$/b to 105$/b for 2014, as global oil demand is thought to be lower than anticipated and supply growth is higher than expected.