Gas prices increased yesterday, finding support from a rise in oil which in turn, lifted coal, power and carbon. Overall flows were comfortable which helped to balance the system and keep a lid on near curve prices.
Gas prices were bearish in the main during Wednesday’s session, pressured down by weakening coal and oil following a sell-off on stock markets. Recent cases of Coronavirus in Germany & South Korea pushed traders into cashing in on profits, fearing a new wave of the pandemic.
Gas prices dipped lower across the curve yesterday as weak demand and surplus supply balanced the system, while coal and carbon both moved down. Oil was the only market to trade higher but the gains were minor.
Near curve gas prices decreased on Monday, taking direction from a balanced system. Overall demand levels remained low despite a drop in temperatures, while healthy renewables reduced gas-fired power demand.