The cautious optimism of last week has been replaced this week with the arrival of a sustained period of cooler weather that will increase demand and put pressure on already low storage levels.
The continued rise in Carbon is keeping upward pressure across the curve and with a couple of gas seasons hitting new highs and the remaining gas and power season all approaching previous highs there doesn’t seem many prospects of any sustained decline in the near term. However, as more information....More
Prices have continued to tick upwards last week thanks to the arrival of cold weather and subdued wind generation, both of which have led to gas storage being withdrawn.
Weather forecasts for the near-term future have also turned colder and concerns over the supply of Russian gas are putting continued upward pressure on prices. The only bearish driver now is the concern over the new Omicron Covid variant and the potential for this to lead to restrictions and a....More
Omicron storms the markets…
A wave of panic swept through the markets on Friday. The announcement of the emergence of a new variant, referred to as ‘Omicron’, with multiple mutations, apparently highly contagious and potentially resistant to existing vaccines, led to a sharp fall in the markets. The markets seem to be regaining some....More