The markets continued their volatile, headline driven moves as all eyes remained on Friday’s European payments for Russian gas deliveries. Nervousness around the market caused June-22 gas and power contracts to rise to around the...
Last week showed much volatility over the markets in general before settling lower late on Friday afternoon. Continued volatility remained as Russian threats to cut off supply via the Yamal pipeline may negatively impact many European nations.
The week began with volatility over the market before generally settling lower over summer months. Commodity markets continue to be driven by headlines amid low liquidity. Extended lockdowns in major Chinese cities have helped to reduce demand.
The week began with the front end of the gas and power curves disassociating with further dated contracts, seeing the front month to front season spread widen. The front of the gas curve came under pressure from warmer temperatures.
Last week saw energy prices move in tumultuous fashion, something that’s becoming all too familiar for market participants and spectators alike. Despite this, gas began the week timidly, generally easing lower.
Last week saw gas markets fall further amidst little in the way of extremely bullish news flow from the Russian invasion of Ukraine. This helped markets to fall back towards more fundamental views with gas storage looking healthier.
Last week saw gas, power and oil swing violently from Thursday morning after news broke that Russia launched an attack on Ukraine. Mar 22 NBP hit a high print of 285p/therm that morning as the market digested the reality of Russia declaring war.
Last week saw gas markets open strong, with front month pushing above 200p/therm, on Ukrainian-Russian tensions bubbling higher with US reports of an expected invasion by midweek published over the prior weekend.
Last week saw gas, power and carbon all lose value, with losses consistent for gas and power whereas a big midweek drop for EUAs dragged the commodity down despite stable, modest gains at the start of the week.
Early last week brought sell offs for gas markets with front month NBP giving back close to 40p/therm by Tuesday’s settlement. Weakness looked linked to warmer temperatures forecast for the beginning of February
Last week saw traders generally buying the dip as Russia/ Ukraine tensions continued to boil, further helping prices tick higher. Front month gas and power saw price increases of c. 18.83p/therm and c. £23.72/MWh settlement to settlement.
Last week saw gains for much of the complex as bearish sentiment was largely bucked by fears around a Russian invasion of Ukraine. Front month gas opened the week trading lower as traders were focused on a healthy roster of LNG vessels.
Last week saw gas prices push higher overall, with days of strength in the middle of the week helping contracts to post gains, although capped either side by losses with ensured price increases kept in check.
Last week saw a bullish start to the week with losses later in the week not enough to stave off weekly gains with front month, Summer 22 and Winter 22 gaining 25.46p/therm, 4.54p/therm, and 4.60p/therm.
Last week saw gas markets initially move lower as the news broke over the weekend prior that Putin had ordered Gazprom to flow gas to Gazprom-owned storage facilities in Europe once domestic storage was full.
The week began fuelled by volatility with gas flows into the Mallnow entry point on the German/ Polish border increasing over Monday afternoon by 85% on what was being flowed last week, helping to present a mixed bag early on.
Last week saw gas and power push higher on European storage levels continue to languish below the lows of the recent range, with low LNG arrivals expected over the coming month, and disruption of Russian supply into Europe
Another bullish week across the energy complex with fundamentals unchanged as renewable output remains lower, continued cooler temperatures, and a strong Asian LNG bid all mean that injection season has faltered.
Last week saw gas and power prices lifted along the curve as attention to storage injections re-ignited with temperatures across the UK dropping off, halting the injections we had seen whilst temperatures were often in the mid-20°Cs.
Last week saw gas markets begin the week with strength after a long weekend, however, this was eroded over the week as front-month dropped some 1.62p/therm, Winter 21 dropped 1.16p/therm and Summer 22 lost 0.81p/therm.
Cold weather premiums were shed from gas and power markets in a week that saw mild and windy conditions along with LNG providing enough flex in the supply stack to combat Norwegian and North Sea outtages
Last week saw carbon take the limelight as the commodity rose a whopping €5.25/tonne, to not just clear comfortably above the €30 level, but reach new highs as the contract comes ever closer to €40/tonne.
An overall bullish week across the energy complex as contracts were spurred higher by cold temperatures, forecasts of cooler temperatures at the start of February, rumours of French nuclear workers striking and dwindling storage levels.