On Wednesday, wholesale gas and electricity prices dropped, which was a relief. The reductions were minimal but nonetheless a welcome reprieve from the increases we have been seeing so far this week.
| Gas: Gas prices were mixed yesterday. In the prompt, cooler temperatures softened demand, whilst rising wind forecasts also weighed on prices. Out on the curve, whilst geopolitical sentiment remains bullish, likely profit-taking helped influence price movements. This morning, early market movement is up on last night’s close. Power: In the prompt, movements were influenced by NBP declines. Out on the curve, movements were mixed on the back of more complex fundamentals. This morning, implied prices are up on last night’s settlement. Oil: Prices continued to gain yesterday, reaching a four-week high. Market sentiment was largely dominated by the intensifying conflict in the Middle East. Carbon (EUAs): The ICE Dec-26 closed at €81.71/t last night. The contract opened this morning at €81.81/t. Carbon (UKAs): The ICE Dec-26 traded to £59.04/t yesterday. Opening this morning at £59.0/t. |
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