On Wednesday wholesale gas and electricity prices rose across most 2026 contracts, particularly in the near term, likely reflecting short-term supply or demand pressures, while longer-dated contracts were more mixed, suggesting little change to the longer-term outlook.
| Gas: Prices were mixed yesterday. With the exception of day ahead and weekend contracts, near term contracts gained in value despite milder temperatures. Power: Like gas, power prices were also mixed yesterday with the DA contract the only one shedding value on the near curve. Contracts largely tracked movements within the NBP market throughout the curve. Oil: The market settled relatively flat yesterday. Talks continue between the US & Iran while, adding to the bearish sentiment, EIA reports show a ~16m bbl increase in US crude stockpiles. Carbon (EUAs): The ICE Dec-26 rose to €72.58/t yesterday. The contract opened this morning at €72.20/t. Carbon (UKAs): The ICE Dec-26, traded relatively flat yesterday, closing at £45.87/t. Opening similar this morning at £45.84/t. |
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