European gas prices weakened yesterday, pressured by the additional drop in Asia JKM prices (-4.54% on the spot, to €64.323/MWh; -7.96% for the March 2022 contract, to €63.604/MWh), which indicates LNG supply to Europe will remain very high. The rebound in Norwegian supply (to 321 mm cm/day yesterday, compared to 264 mm cm/day on Tuesday,…
The EnergyScan team held its quarterly webinar covering key trends and events on energy markets. In this webinar, our experts addressed the following topics, with a Q&A session at the end of each topic: • Macroeconomic outlook: Between Omicron and inflation• Oil: Addressing upside demand risks in a capital-starved industry• Natural Gas: High gas prices:…
European gas prices increased slightly yesterday, supported by the additional drop in Norwegian supply (to 264 mm cm/day, compared to 310 mm cm/day on Monday, following another unplanned outage, at the Kollsnes gas processing plant this time). Asia JKM prices were also slightly up (+1.58% on the spot, to €67.384/MWh). At the close, NBP ICE…
Japanese refining scaled back in the first weeks of January to 2.86 mb/d while we expected runs to remain at 2.95 mb/d. Crude inventories rose by 3 mb, although remaining way below the 5-year average for Japan. In the US, the EIA’s drilling productivity report showed two interesting facts. First, the backlog of drilled but uncompleted wells (DUCs)…
Yesterday was a day of transition or “breathing space” on the markets. There was little movement on rates, which even fell slightly in the US (1.86% for the 10-year), while the German 10-year stabilised at around 0%. The US equity market still fell again, with the Nasdaq giving up 1.15%, or more than 10% from…
