Apollo Energy publishes a daily energy market analysis, focusing on the gas, power and oil markets including a commentary on how the markets close and open. Our analysis provides insight on how the markets are performing and also considers various factors which could dictate price changes in the future.
The analysis also contains a graph which tracks the one-year forward price of both gas and electricity as well as changes to Brent crude oil.
Maintenance is taking place at a number of North Sea facilities, including the Troll gas field which offered support to prices during Monday’s session, as flows to the UK and Europe were hampered. Meanwhile, rising oil and carbon continued to provide bullish pressure further along the curve.
Calmer commodity markets and a milder weather outlook for the weekend and the start of this week resulted in downward movement across the gas curve on Friday. Improved renewable power generation was also expected, reducing CCGT demand.
An undersupplied system was the result of high demand and reduced flows yesterday which helped towards gains across the near gas curve. Further out, prices also moved higher, following rising coal, carbon and oil markets.
A stronger demand forecast for today helped near curve gas contracts trade higher, with colder weather and weaker wind levels expected to result in undersupply. Meanwhile, oil and carbon markets strengthened, lifting the far curve.