Close price: Prices have been treading downwards since Friday, with an oversupplied UK system applying downward pressure. A strong LNG delivery picture also helped to place the bears in control yesterday. Oil traded flat, with concerns over a recession growing, but this was counter balanced by the US driving season about to begin, starting with Memorial day.
Opening price: Prices are slightly up, with UKCS imports dropping on fundamentals, but the main driver appears to be growing concerns over Russia suspending flows to Finland and if further nations are to follow. Rises have been capped by a rise in EU storage levels, now sitting at 43%, 9% higher than this time last year.
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