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A balanced UK gas system weighs on prices - 07-02-2022

Close price: Prices ended the week higher, with temperatures in Europe re forecasted to be much colder towards the end of this week. However 36 LNG tanker are expected to arrive in European terminals this month, limiting the price gains seen

Opening price: After last weeks market rally, prices have opened down and the energy complex is slowing down. Oil is flat, while the UK gas system is well balanced. This afternoon prices are moving slightly up, but should still end the day lower overall.

There is growing talk that a full scale invasion of Ukraine by Russia is “unlikely for now” and could be easing fears.