TERMS & CONDITIONS

Last week saw the market begin very bullishly as a result of significant emerging weather fundamentals, namely: cold temperatures and low wind generation (20% below seasonal norms). This resulted in some highly volatile price action along the curve.

Early last week saw markets come off hard, while still littered with volatility as prices were jumping around and very large trading ranges emerged across most contracts. However, the markets well and truly closed in a bullish manner.

Early last week saw a lot of market volatility with prices jumping and very large trading ranges across most contracts, this was primarily due to market uncertainty and fundamentals such as an ‘incident’ at a Norwegian gas terminal.

The one commodity that defied the weak close to the week was Brent crude, which off the back of OPEC+’s production cut announcement saw its Dec 22 contract rally 8.74% closing in on $100/barrel again.

Welcome to October, the beginning of winter delivery and the start of a new gas year for the entirety of Europe. The ever-changing energy markets saw another week of volatility last week, as four leaks were found on the two Nord stream pipelines.

The ever-changing energy industry saw another week of volatility as governments across Europe looked to protect their consumers and economies from large scale increases in prices going to winter.