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

Medium term supply more optimistic

Close price: Prices closed Friday at a discount to the previous close. Helping this was the expectation of continued strong LNG deliveries through the summer, as a result of the current premium to the JKM compared to Asia. Positive storage fullness sentiment has also helped push further dated prices down.  

Opening price: Energy prices are up modestly on the near curve but down on the far. National Grid has cut the amount of LNG it is accepting at Milford Haven terminals, over fears it is running out of storage space. A tanker with cargo from Peru, due to land in UK is making a U-turn off the coast of Spain. This is the first sign the UK is pushing its imports to its limit.

Gazprom has updated its latest guidance on Roubles payments, stating that if payments are not converted on time then the buyers will not be at fault and therefore interruption of supply should not occur. The market awaits the details of the EU’s plan to offer energy firms a way to pay for Russian gas without breaching sanctions.