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Prices remain stable-to-bearish - 20-01-2022

Close price: Prices dropped yesterday, helped with the continuation of strong LNG flows and a healthy schedule being booked in for February. Oil did hit a 7 year high yesterday to cap the losses somewhat, with some OPEC nations struggling to meet the new production target.

Opening price: Prices are down slightly across the curve. Central European and UK temperatures have been adjusted higher for the next two weeks, however it is still expected to be the coldest day of the year for the UK tomorrow. Joe Biden has heighten the geo political issues over Ukraine, stating he expects Russia “to move in” on Ukraine. Prices have at present not particularly reacted to this, perhaps due to the fact much of the risk premium was already priced into the market.