• Stronger Russian sanctions cause fear around gas supply disruptions
• Germany may look at extending the life span of some coal and nuclear plants
• Some Russian banks blocked from a major payment service stoking fears around global oil exports

Markets remain extremely volatile as prices across near curve and front seasonal index’s rebounded from Friday’s losses. Tougher sanctions from the U.S and European countries will continue as Russia’s invasion escalates. Despite Russian gas flows remaining stable and meeting consumer demand, the fears of Russia cutting gas off to Europe remains high on the agenda.

Germany will therefore look to extend the life span of some of its coal and nuclear supplies in light of the current conflict to help offset some of the reliance of Russian gas in the short term. The gas system in the UK opened up 30 MCM/d oversupplied as demand remains below seasonal norms and wind speeds continue to be strong but likely to drop off tomorrow.



Oil prices pushed higher this morning and went above the $100 mark as sanctions got stronger against Russia, with some Russian banks being blocked from a global payment service which in turn could cause disruptions to global oil exports.