Oil which rallied mildly on Friday fell off today further bringing the gas curve with it. The effects have been seen in the power market with falls across the curve. Winter 07 traded down £54.50 but perhaps more interestingly Summer was seen trading below £43 at £42.90 but it was a brief.

So the six million dollar question will this continue for some time, answer it might well do, there is nothing that is fundamentally keeping prices from pushing up, and this is traditionally a quiet time for traders to set out their stall for the Winter and what they think will happen in Winter all evidence suggests that a mild low demand high supply Winter is what will prevail and so at this stage the longs will be trying to at the very least get flat and in some cases go short.