Wholesale gas and electricity prices continued their volatile ride on Monday, with increases across the board.
| Gas: NBP contracts gained in value yesterday with the deadline for US secondary sanctions on Russia proving a bullish element. Injections into storage continued yesterday bringing further support to the prompt. Power: Day ahead and Weekend contracts were pressured by strong wind outputs. Elsewhere, on the curve contracts largely followed the gains encountered in NBP pricing. Strong benchmark UKA prices pushed some far curve contracts higher. Oil: Prices continue to be influenced on the back of the OPEC+ output increase leading to concerns of oversupply. Traders are considering the risk of the US penalising India for buying Russian oil, helping steady any declines. Carbon (EU ETS): The ICE Dec-25 fell to €70.85/t yesterday. Opening at €70.67 /t this morning, the contract is currently trading similar at €70.69/t. Carbon (UKAs): The ICE Dec-25 closed at £50.91/t yesterday. The contract opened at £50.89/t today and is trading at £50.80/t at the time of writing. |
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