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Colder weather paired with supply disruption fears lift prices

Close price: The UK is set to see colder temperatures from tomorrow, and energy demand expected to increase as a result. Discussions over Russian gas contracts to be settled in Roubles are ongoing.

Opening price: Prices are up this morning, continuing yesterday afternoon’s trend with domestic demand expected to outturn much higher with colder weather. Brent Crude continues to fall however as the latest COVID-19 outbreak in Shanghai is expected to weaken demand with the imposed lockdown.   After two weeks of no negotiations, peace talks are resuming today in Istanbul, between Ukraine and Russia delegates. Both parties are looking to agree on a ceasefire, but both sides admit the prospects of an agreement are slim currently.