Page 8 - FSUOGM Week 07 2022

FSUOGM PERFORMANCE FSUOGM

Gas prices bullish on US warnings

of Russian action in Ukraine

EUROPE TTF gas prices were bullish in early trading for other scenarios.”
this week, after the White House warned that a UK Prime Minister Boris Johnson similarly
The language of EU Russian invasion of Ukraine could occur within warned that the situation in Ukraine was “very,
leaders has been days. very dangerous,” on February 14, and urged
markedly more The Biden administration’s national security Putin to step back from ‘the edge of a precipice.”
restrained. advisor Jake Sullivan warned late on February He also said that the evidence was “pretty clear”
11 that Russia could launch a military incursion that Russia was planning an invasion, although
“any day now” – possibly even before the Winter the Kremlin has consistently said this is not its
Olympics in Beijing end. intention. Nevertheless, Russia has amassed a
“Any American in Ukraine should leave as force of some 130,000 troops at Ukraine’s bor-
soon as possible, and in any event in the next 24 ders with Russia and Belarus.
to 48 hours,” Sullivan told reporters in a briefing. The language of EU leaders has been mark-
His comments echoed those of US President edly more restrained. In a meeting last week
Joe Biden, who called on US citizens in Ukraine with Putin, Macron said he had received from
in an interview with NBC News on February 10 the Russian leader personal assurances that an
to “leave now,” stressing that “this is a very differ- invasion was not a possibility. Meanwhile, Brus-
ent situation, and things could go crazy quickly.” sels has stressed the need for talks to continue in
Biden also had a phone call with Russian the hope that the crisis can be resolved.
counterpart Vladimir Putin on February 12, The March delivery contract at the Dutch
warning his adversary that in the event of an TTF gas hub was trading 5.4% higher by
invasion, “the US together with our allies and around 12:30 GMT on February 14 at €81.6
partners will respond decisively and impose ($92.44) per MWh. The amount of gas in EU
swift and severe costs on Russia,” according to a and UK storage facilities had fallen to 33.8%
White House statement. capacity as of February 14, down 0.34 per-
“President Biden was clear with President centage points compared to the previous day.
Putin that while the US remains prepared to Withdrawal rates have slowed in recent days, as
engage in diplomacy, in full coordination with LNG imports remain strong and temperatures
our allies and partners, we are equally prepared comparatively high. ™

P8 www. NEWSBASE .com Week 07 16•February•2022