Just nu är efterfrågan på gas stor, samtidigt som det finns ett underskott i lagren. Såhär ser prisutvecklingen på gas ut.
Gas market – Coal and oil continue to push gas prices up
Like the power market, the gas market is very strong at the moment. Norwegian production and Russian imports are both high, but the market has strong support despite this. There is generally a great need for injection into the gas storage facilities over the summer, and this fact seems to be constantly lurking in the background, making sellers reticent.
Gas prices have a strong correlation with the oil price, and the oil market appears to be in a general upward price trend. There is talk of technical resistance at around USD 80/barrel, but the price already breached this level last week, and oil is trading at USD 79.75/barrel at the time of writing. As long as the undertone in the energy complex remains as strong as it is, it is not realistic to expect technical levels to keep markets in check for very long.
The market was nervous about a possible trade war between the US and China for a brief period, but concessions on both sides have alleviated this fear of late and given renewed strength to oil, in particular. This is seen as the primary reason we are again seeing oil trade right up to the technical resistance level of USD 80/barrel.
A strong gas market overall, supported by the surrounding energy complex.
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