Market Insight

DAILY MARKET REPORT – 26/11/2024After a relatively calm start to the week, markets reacted to the confirmation from OMV that, as widely anticipated, they had intently withheld payment for October gas to Gazprom to balance the compensation due to them following the arbitration award. In response, Gazprom stopped delivering…

DAILY MARKET REPORT – 25/11/2024Markets ended the week with a softer session after rising prices all week, pushing new highs on Thursday.Windy weather was expected in the UK at the weekend as Storm Bert hit which has caused flooding in parts but also returned wind generation to the stack resulting…

DAILY MARKET REPORT – 22/11/2024The market pushed to yet new highs yesterday as outgoing US President Biden pushes further pressure on Moscow with the US Treasury sanctioning Russias Gazprombank. This is significant as in recent years Russia imposed new processes to only allow payments for Russian gas in Rubles –…

DAILY MARKET REPORT – 21/11/2024Despite the cold temperature forecasts passing after the coming days and plenty of LNG being sent towards Europe, markets remain high and unwound their previous days losses to put us back where we were again.From January, the German gas storage surcharge will increase by 20%.  This…

DAILY MARKET REPORT – 20/11/2024A softer session seen yesterday after hitting peaks in recent days.Colder weather now upon us, especially in the UK where snowfall has even landed in parts, however the latest forecasts suggest this will pass and return close to seasonal normal levels in the coming days.The recent…

DAILY MARKET REPORT – 19/11/2024After a soft start to the day, yesterday ended upwards as cold weather landed.As prices has spiked in Europe, this has attracted plenty of LNG cargoes to head in this direction.  In the UK we are now expecting 8 cargoes over the coming weeks – the…

DAILY MARKET REPORT – 18/11/2024Panic stations everyone! That was the state of the market in the final hours of last week as Gazprom reacted to OMVs intent to take action in recovering the €230m it was awarded.Gazprom declared it would not deliver gas to Austria with immediate effect. The market…

DAILY MARKET REPORT – 15/11/2024Whilst flows from Russia towards Europe through Ukraine are due to stop at the end of the year, the fear of that gas stopping earlier than planned worried the market considerably yesterday as it pushed to yet new highs.As a result of OMV winning an…

DAILY MARKET REPORT – 14/11/2024A small sigh of relief seen in yesterdays session as prices didn’t rise any further and showed a small downside to the previous days settlement.Slovakia confirmed that it has signed what it referred to as a ‘short term pilot’ deal to receive gas from Azerbaijan to…