Friday 22 May daily market report

Prices remain rangebound amid the absence of a major catalyst

Friday 22 May daily market report
  • May 22, 2026 9:37:41 AM
  • 1 minute read

Prices remain rangebound amid the absence of a major catalyst

 

Gas and power

Prices settled close to Wednesday’s levels as the market lacked a major breakthrough or headline catalyst, while the continuation of peace talks helped limit upside momentum. However, downside moves also proved short-lived after reports suggested Iran is hardening its stance on one of the key US demands. The development could further complicate efforts by Donald Trump to secure a deal and end the conflict. For now, markets remain finely balanced as participants await signs of a compromise. 

Adjacent markets

 Oil prices rose on Thursday but remain in the middle of the recent trading range. The recent optimism around an imminent US-Iran peace deal was tempered by reports that the Iranian Supreme Leader has issued a ruling that no uranium can be sent abroad. The FTSE 100 posted a small gain, as data showed the PMI data showed the UK economy moved into contraction for the first time in a year. 

 

  NBP (p/therm)   UK Base (£/MWh)  
  Close Day on Day Close Day on Day
Jun-26 121.01 0.74 102.48 1.00
Jul-26 120.24 0.61 101.93 0.52
Aug-26 120.48 0.56 99.69 0.32
Q3-26 120.78 0.55 101.45 0.67
Q4-26 123.85 0.73 104.19 0.60
Q1-27 120.57 0.43 101.51 0.05
Win-26 122.22 0.58 102.78 0.33
Sum-27 86.46 0.39 75.59 0.53
Win-27 86.69 0.31 78.78 0.47
Sum-28 64.23 0.50 59.84 0.55
Win-28 71.47 0.02 67.58 0.42

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