| Gas: Gas prices rose on Friday as European storage levels have started the new gas year at just over 70% full, which is lower than previous years, supporting curve prices. LNG transits via Hormuz rose in September to their highest level since the war began, which will ease some global supply tightness if this could be maintained. Prices have softened this morning. Power: Power prices rose at the end of last week, tracking the latest bullish momentum from the gas market. Higher than average temperatures in the prompt limited demand. Prices have continued to track the gas market and fallen this morning. Oil: Oil prices settled lower on Friday after European leaders agreed to release their diesel reserves to lower prices, as per a request from the US president. Prices have continued to soften in this morning’s open as crude exports rose in the Middle East, which offset concerns about further damage to Gulf infrastructure as the US war with Iran continues. Carbon (EUAs): The ICE Dec-26 closed at €84.42/t last Friday. The contract opened this morning at €83.81/t. Carbon (UKAs): The ICE Dec-26 traded to £60.98/t on Friday. This morning the contract opened at £60.62/t. |
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