In this week’s Resonance energy market podcast episode, Jeremy Nicholson talks to Alfa’s Daniel Veasey about the recent volatility in energy markets and what that might mean for the remainder of 2023.
Topics explored include:
- Banking crisis triggered a sell-off in oil, followed by OPEC taking the market by surprise with planned cuts in production
- Power and gas volatility caused by French strikes and cold weather in the short-term
- A warning of big swings in prices over the next 6 months
- Maintenance season to begin with concerns over the likelihood of French nuclear returns
- Gas storage injection season is expected to be comfortable with LNG deliveries supportive for now, but dynamics could change quickly
- Risk remains, including: the potential for demand from Asia; drought warnings across Europe; the potential for a lack of wind, and of course; the Russian/Ukraine conflict
This episode of the Resonance was recorded on 4th April 2023.