Gas was bearish during Tuesday’s trading, ignoring increases on oil, coal, power and carbon markets. Warm weather and improved flows from Norway sent the system long, resulting in losses across the near curve.
Gas prices increased across the curve yesterday, pushed higher by a rise in coal and oil which supported the overall energy complex. However, the afternoon saw a few minor price reversals as short-term fundamentals were bearish.
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.