Gas prices weakened on Thursday with the larger losses displayed at the front of the curve, while movement on the far-curve was minimal. Fuel markets remained bearish, with oil, power and carbon posting another loss, while coal stabilised.
Near-curve gas prices recorded further losses during yesterday’s session, while contracts further out displayed a rebound before the end of trading, to close the day almost unchanged. Market sentiment was mixed with commodity markets moving in different directions.
Gas prices displayed further losses yesterday with the Day-Ahead contract shedding around 10% from its price. The losses filtered through to the rest of the near-curve due to improved supply levels, while weaker commodities weighed on the far-curve.
Gas prices displayed early morning gains on Monday on the back of high demand and reduced supply which tightened the system. Meanwhile, coal, carbon and power markets rallied higher, providing additional strength to the far-curve. However, most prices displayed a downward correction later in the afternoon.