Gas prices moved down yesterday morning but the bulls took control in the afternoon and prices ended the day almost unchanged. Overall commodity markets were slightly bearish with carbon, coal, oil and power price trading down.
Gas prices showed little movement yesterday, with the more significant movement displayed by longer dated contracts as a rise in coal and oil provided support. The prompt found direction from a drop in wind levels and colder weather which lifted gas demand.
Gas prices were slightly supportive yesterday, with bullish pressure coming from a rebound on commodity markets. However, any upward movement at the front of the curve was limited by healthy supply and a drop in demand.
Gas prices carried on last week’s bearish trend during Monday’s session, finding direction from weakening commodity markets, driven by spread of the Coronavirus in China. Milder and windy weather, combined with strong flows and high storage levels also weighed on prices.
Gas prices moved down on Friday, recording an overall weekly loss, with little in the way of support. Stronger supply and low demand helped to pressure down the near-curve, while the far-curve found direction from weaker commodities.