Further increase with industrial unrest at US LNG facilities now as well as Australia!!  It’s a good job that Europe has over 90% of winter gas stock in place already

Thus far the impact of the latest wholesale increases has not been fully reflected in the contract prices that we are seeing this week

Gas: Gas prices continued to rise yesterday after US LNG facilities union workers announced rolling labour stoppages beginning 7 September. Additionally, low wind generation has increased demand for fuel-fired generation in the prompt. 

Power: The power market continued to be driven by gas yesterday. Wind generation is expected to create 5GWs/day, 20% below seasonal norms for this time of year. 

Crude: Oil prices were volatile yesterday but closed upwards as the market awaits economic data at the end of this week. Hurricane Idalia has caused concerns around production in the US. US Job openings fell by ~340,000, the lowest since March 2021, causing the $USD to soften and make oil cheaper for non-currency holders. 

Carbon (EU ETS): The ICE Dec-23 fell to €84.77/t yesterday. Opening at €84.74/t, the contract is currently trading higher at €85.39/t. 

Carbon (UKAs): The ICE Dec-23 closed at £47.29/t yesterday. The contract has opened at £47.17/t and has found some momentum, currently trading at £47.23/t.