On Wednesday wholesale Gas and Electricity prices continued to rise in the immediate term. April and October start date contracts showed slight increases for Electricity and decreases for Gas.
| Gas: Prompt and near curve contracts continued to rise in price yesterday, supported by forecasts of colder temperatures over the coming fortnight and strong activity by investment funds. Power: Most power contracts gained in value yesterday, tracking bullish NBP in the prompt/near curve. Gains in Carbon UKAs influenced contracts further out on the curve. This morning, most contracts are trading up on last night’s close. Oil: Oil prices fell by the end of trading yesterday, following US president Donald Trump signalling that military action against Iran was not imminent. A rise in US inventory data brought further bearishness. Carbon (EUAs): The ICE Dec-26 continued to rise during the previous session, ending the day at €91.82/t. The contract has opened at €92.24/t this morning. Carbon (UKAs): The ICE Dec-26 continued to rise yesterday, closing at £72.72/t. The contract opened higher at £73.53/t this morning. |
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