April 2020 was one of the most volatile trading sessions in living memory with wholesale energy commodities recording both record up and downswings, even resulting in a negative WTI index. As we finish the month markets have started to stabilise with slight gains seen in day ahead prices and some overall gains in Winter 20/Summer 21 electricity markets.
Further out on Winter 21/Summer 22 electricity curves were slightly ahead of month start to finish at £43.43 and £37.79 respectively.
Far out gas markets saw modest falls with Winter 21 ending at 37.67p/therm and Summer 22 ending at 31.96p/therm.
WTI bounced back into positive territory but still remains massively down from month start at $50 to finish $15.75. Brent saw a more stable month but still lost value from $27 to finish on $23.
Many economies are starting to loosen the lockdown restrictions with a view to slowly starting their economies again which will strengthen the balance in supply/demand. The next month will prove important in the overall direction for the year and is likely to be very dependant on if/how any second waves of lockdowns are potentially implemented.