Weekly Market View – w/c 3rd January, 2022
Market Drivers – January
We understand the business energy market can be challenging.
Our specialists compile a Market Drivers report each month.
We have highlighted Bearish drivers, expected to contribute to the market lowering, and Bullish drivers, expected to contribute to the market going higher.
Click here to discuss your business energy challenges.
- Bearish Drivers
- Potential increase of non-committed cargoes to NEW considering Panama Canal waiting times reduced, healthy Asian stock, and arbitrage of US cargo to Asia closed.
- Potential for Gazprom to buy more capacity daily basis.
- Norwegian and UK producers to continue maximizing supply.
- The latest EC45 indicates close to normal weather.
- Bullish Drivers
- NWE storage inventory to end Jan-22 acutely low.
- Risk for colder weather than is outlined by the latest forecast.
- Geopolitical concerns ramping up, opposition to NS2 growing, and leading to a strong likelihood that NS2 will not start in H1-2022.
- Reduced French nuclear capacity availability and a risk for this to extend and lift gas for power demand.
- Low monthly capacity booking for January via Russian supply routes.