Daily Market Analysis: 27.07.23

During the recent trading session, the Gas National Balancing Point (NBP) in the day-ahead markets experienced a significant decline of 9.15 pence per therm (p/th), concluding at 72.50 p/th. Likewise, the UK day-ahead Power Base Market also saw a decrease of ￡4/MWh, settling at ￡84.00/MWh.

At the time of closing, all commodities in the market have displayed bearish movements and retracement from their previous gains. Notably, European coal prices decreased by 5.20 $/tonne, settling at 127.35 $/tonne, while the Carbon UK ETS Dec 24 followed suit with a decrease of 0.31 ￡/tonne, reaching a closing value of 51.25 ￡/tonne. Additionally, Brent Oil also experienced a decline of 0.72 $/bbl, concluding at 82.92 $/bbl. These downward trends across various commodities indicate a prevailing bearish sentiment.

Read the full report & sign-up for our daily email alerts here: