Wholesale gas and electricity prices continued their upward creep on Wednesday, with gas moving markedly ahead.

Gas: Gas prices rose yesterday. An increase in domestic demand in the prompt supported prices as renewables performed well below average. A maintenance outage at Dragon LNG reducing capacity to 50% further supported prices. 

Power: The majority of power contracts rose yesterday, tracking a bullish gas market. In the prompt, wind continues to generate well below average at 3.4GWs/day.

Oil: The September Brent crude future settled flat at $70.19/barrel yesterday. Strong gasoline demand, supported by the Independence Day holiday in America, weighed against President Trump’s copper tariffs and attacks on shipping in the red sea.

Carbon (EU ETS): The ICE Dec-25 traded flatly yesterday and settled at €70.39/t yesterday. Opening at €70.39/t this morning, the contract is currently trading at €70.69/t.

Carbon (UKAs): The ICE Dec-25 fell to £46.56/t yesterday. The contract opened at £47.75/t and is currently trading at £46.81/t.

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