Prices were mixed on Wednesday with some marginal increases in the short term and decreases further out

Our view remains that the longer term fundamentals are for lower prices and therefore max 12 month contracts are the correct course of action now

Gas: Gas prices strengthened throughout the majority of the curve yesterday. Norwegian capacity had 96.86mcm/day offline, supporting the gains. However most gains were limited due to the abundance of LNG cargoes due to land in British terminals by the end of October. The UK expects to receive 10 LNG cargoes. 

Power: Power prices continued to track Gas market movements yesterday. Additionally, three nuclear reactors are out for planned maintenance, removing 1.8GWs from the stack. 

Crude: Oil prices fell to their lowest point in four weeks yesterday, after reaching a 10-month high last week. Motor gasoline inventories rose by 6.5m barrels in the US indicating a higher refinery turnaround and limited demand. 
Carbon (EU ETS): The ICE Dec-23 rose to €81.67/t yesterday. The market opened this morning at €81.93/t and is trading at €81.66/t at the time of writing. 

Carbon (UKAs): The ICE Dec-23 closed at £41.18/t yesterday. The contract is currently trading at £42.00/t at the time of writing.