Markets fear energy sanctions against Russia

Focus week 14: European gas trading with Russia is hanging by a thread. Both the Russians and the EU are flexing their muscles with a view to putting a stop to trading.

Here and now

Following a couple of weeks of climbing prices in the Nordic forward market, we experienced a slight downtrend in the immediate contracts in the market. The immediate month contracts and the contract for the coming quarter fell, and the Q2-22 contract now costs EUR 71.00/MWh. The weather forecasts continue to indicate low temperatures for the coming weeks, but some forecasts have also indicated that milder and wetter weather will be on the way from the middle of April. The 2022 year contract climbed slightly and is now at EUR 53.90/MWh.

Read Focus here.