Wholesale gas and electricity prices continued their upward trajectory on Monday at the start of the new week with significant increases. 

With the Israeli elections and US midterms looming, we don’t believe there will be any resolution to the situation in the coming weeks. 

Gas: NBP prices climbed again yesterday, still supported by weather fundamentals and geopolitical risk. The market has opened this morning broadly in line with last night’s close.

Power: Power prices rose yesterday on the back of strong NBP gains. Wind output is forecast to fall, with below-average generation expected to continue into November, which is giving the prompt more support. There has been little change this morning from last night’s settlement.

Oil: Oil prices eased slightly yesterday as traders took profits. Benchmark Brent contracts settled at around $114/bbl.

#gas #electricity #businessutilities #businessgas #businesselectricity