Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Extreme volatility continues as prices hit new record highs - 02-03-2022

Close price: Prices had a dramatic rise, making back all loses from a recent dip as the war in Ukraine is clearly intensifying, and sanctions on Russia start to affect markets. Fear is also running at its highest regarding the global supply of natural gas and oil.

Adding to supply fears was the fact the UK is now looking to prevent any Russian LNG from docking in the UK. Although Russian LNG has never been a large source for the UK, a similar approach from Europe and the rest of the world would have far reaching consequences of supply. Canada’s complete ban on Russian oil imports sent Brent up to $104 yesterday.

Opening price: Prices are surging this morning to never before seen valuations. At 9am we looking at a 60% increase, breaking all time highs. Currently, prices have dropped off and are around 35% higher in an extremely volatile market. We are seeing swings of 10% every hour.

Nord Stream 2 filed for bankruptcy this morning, and has laid off its entire staff. This news shook the markets. Brent oil hit $113, it highest value since 2014, and close to breaking all time valuations. Coal is rising strongly by 31% as the whole energy mix fears peak. Depending where prices settle at the end of the day, tomorrows graph will currently show a dramatic spike up.