Gas and electricity prices eased back slightly on Wednesday following two days of gains. We expect this volatility to continue, so the timing of agreeing contract signing dates is more important than ever at the moment to capitalise on the market dips.
| Gas: NBP prices fell slightly yesterday. Norwegian maintenance continues to add pressure as the UK looks to refill storage, which currently sits below the 5-year average. There has been a relatively bullish start to trading this morning. Power: Contracts fell slightly throughout the power curve yesterday, largely following NBP movements. Strong renewable output added further pressure. This morning, early trading is up on last night’s close. Oil: Prices fell yesterday on the back of data out of the US. EIA data showed vastly increased stock levels versus what was expected by market analysts. An expected increase in supply by OPEC+ in July weighed on the market. Carbon (EU ETS): The ICE Dec-25 closed at €72.61/t yesterday. The contract opened at €72.67/t this morning and is currently trading at €73.11/t. Carbon (UKAs): The ICE Dec-25 finished yesterday’s session at £50.30/t. This morning, it’s currently trading at £50.51/t. |
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