Weekly Market View – w/c 9th May, 2022
Market Drivers – April
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
- Despite a slowdown month on month LNG send out remains exceptionally high.
- Soft consumption in both UK and NWE.
- Norwegian and UK producers to continue maximising production, very light maintenance schedules for May.
- NWE storage inventories once more extend their gap to 2018 and 2021 levels giving markets more confidence, we will meet the EU mandatory storage levels.
- UK exports at max capacity for the month.
- Breaking news that EU may have found a way to pay for Russian gas without breaching sanctions, if true would pave the way for further near curve de-risking.
- Bullish Drivers
- Any escalation of Russian aggression that includes non-conventional weapons and or discovery of further atrocities in villages captured by Russian soldiers may finally lead to sanctions on Gas exports
- Reduced French nuclear capacity and high potential of further unplanned outages.
- Rouble payment uncertainty, lots of mixed messages.