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

Prices trade close to levels seen in early December - 04-01-2022

Extreme volatility and record breaking valuations were seen over the festive period, but as quick as that was hit, we have seen a rapid sell off in prices in the last few working days. Despite the sell off, prices are at the level they were back in Early December.

Recap over last two weeks:

Between the 20th to the 23rd of December we saw prices accelerate in dramatic fashion, dwarfing the record peak we saw in October by around 50%. During this period, gas flows from Russia dramatically fell with the Yamal pipeline seeing reversed flows for two days, flowing back Eastwards, while European gas storage levels drop below 60%.     

From the 24th to present we have seen prices lose almost all gains made in December in just a few short days, following a considerable period of mild weather and a glut of LNG shipped in helping the supply picture. 18 LNG cargoes arrived in December with the same number expected this month by the 22nd January.

Today: Today, prices are moving higher quite noticeably as Russian gas flows from another pipeline, the Velke Kapusany has dropped considerably into the new year, while flows from Yamal remain reversed for the 15th straight day.