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Market Drivers – April

We understand the 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.

    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.
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