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.