Gas contracts traded lower yesterday, tracking movement on the coal market, with both fuels competing to make up for a drop in wind generation. Temperatures are also expected to turn milder after the weekend, further weighing on prices.
Gas prices displayed minimal movement during Wednesday’s session and either ended the day unchanged or with a very small loss. Oil and carbon markets displayed mixed changes throughout the day and offered no direction to prices.
Gas contracts displayed strong losses during Tuesday’s session with the more significant decreases recorded at the front of the curve. Coal and carbon markets also moved down, adding to the downward pressure.
Gas prices inched higher yesterday, with gains on the near-curve caused by an undersupplied system and a colder weather outlook. Increases further along the curve were less prominent as commodity markets offered mixed direction.