Friday 9th October 2026

 Markets close mixed as Middle East tensions support sentiment.

Gas and power

Prices closed mixed yesterday, with seasonal contracts generally moving higher while near-term contracts settled below the previous day's close. Power and gas markets remained focused on developments in the Middle East, where elevated tensions continue to support prices. Reports indicated that the US is preparing military options for potential fresh strikes on Iran ahead of the midterm elections. Meanwhile, Iran stated it is reviewing the US response to its proposed seven-day plan to reopen the Strait of Hormuz and expects to provide an update within the coming days.  

Adjacent markets

Oil prices rose on Thursday due to ongoing supply concerns, driven by escalating tensions in the Middle East that reduced shipping volumes through the Strait of Hormuz, as well as a hurricane that disrupted US output. US equities declined during the session as higher oil prices fuelled inflation concerns, while bond yields remained close to multi-year highs. 

Closing prices