The natural gas storage report for the week ending 1/14 indicated a withdrawal of 206 Bcf. This draw came in slightly above expectations, and also exceeded the benchmarks for last year's coincident week, as well as the 5-year average for the week.
United States
Fears about technical problems at nuclear power plants are keeping pressure on electricity prices. The natural gas futures market fell despite a deteriorating diplomatic situation at the Russo-Ukrainian border. The explosion of a pipeline in Turkey has raised fears of oil supply problems in the short term
France
Front Month (Feb 22) product decreased quite significantly WoW, probably as reaction to updated weather forecast, which predicts temperatures near normal thus higher than previous forecast. Price risks are connected especially to gas market where weather and gas supply risks are the most significant.
Czech Republic & Slovak
Nuclear production will be lower than expected in the coming weeks. This forecast accentuates fears in all market participants. Despite the reduced flow of Russian gas and gradually decreasing inventories, market participants are optimistic for natural gas. Oil demand is still strong, confirming that the 5th wave of COVID will not have an impact on the market.
France
The natural gas storage report for the week ending 1/7 indicated a withdrawal of 179 Bcf. This draw came in close to expectations, but eclipsed the benchmarks for last year's coincident week, as well as the 5-year average for the week.
United States
Gas market experienced significant price decline since pre-Christmas period, especially in near curve market. This is thanks to abundant LNG imports into the continent as well as stable Norway flows. The electricity price grew mainly as reaction to news about EDF´s cut of its 2022 nuclear production target by almost 10%.
Czech Republic & Slovak