|Market Close||Market Close|
|Gas prices posted gains on Thursday ahead of the expiration of a number of contracts, with strong upward movement on the commodity market also a key factor. Oil prices increased on the back of Wednesday's announcement in regards to production cuts which supported the far-curve. A weaker supply picture also provided bullish pressure at the front of the curve following another drop in Norwegian flows, while a weaker wind forecast will result in higher gas-fired power generation.||Strong upward movement on the gas and oil markets transferred to the power curve yesterday in a bullish session. A colder weather forecast and an expected drop in wind generation over the weekend also helped to push prompt contracts higher.|
|Market Open||Market Open|
|Norwegian export capacity is set to rise next week which has helped to weigh on near-curve gas contracts this morning, although a colder weather forecast could offer some support. The UK gas system is long following a drop in exports to Belgium, however residential demand in the UK is forecast to rise next week in a morning of mixed fundamentals.||Movement is mixed this morning with varied changes at the front of the power curve and sizeable losses displayed further out. A colder weather forecast has provided some support on the near-curve, although the usual drop in industrial demand on Fridays has helped the prompt open at a discount. Meanwhile, contracts further out have taken direction from decreases on the gas and oil markets.|
Brent 1st-nearby prices display a minor loss this morning following gains in the previous two session as the initial dust has settled following the OPEC announcement on Wednesday; Brent currently trades just above $48.6/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased - closing at 40.82ppt and £46.40/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.