8th June 2022 | Market Analysis

Energy Market Analysis - 08-06-2022

Close price: Energy demand was higher than the seasonal normal yesterday, but supply was in a comfortable position to cope. In a very settled day, we saw prices trend down. The only exception was the oil markets, with a forecasted decline in U.S. inventories and strong demand from driving season pushing it higher.

Opening price: Prices are slightly down on opening, with much of yesterday’s momentum feeding into today. UK gas storage levels are at 91%, while the EU has now passed the 50% mark.