Monday 14th September 2026

 Power and gas markets ease, but weekly gains remain strong 

Monday 14th September 2026
  • Sep 14, 2026, 11:23:46 AM
  • 1 minute read

 Power and gas markets ease, but weekly gains remain strong 

 

Gas and power

Although prices closed lower on Friday, power and gas markets saw a strong overall gain last week. Markets continued to price in the risk of tighter global LNG supply through the winter. Escalating geopolitical tensions, including continued threats and attacks on shipping, supported prices, while reports suggesting the conflict could extend throughout President Trump's term reinforced expectations of prolonged disruption to LNG flows. However, optimism ahead of Monday's expected talks on a potential shipping route provided some downside pressure.

Adjacent markets

 Oil prices fell on Friday following reports of diplomatic efforts to secure a temporary deal on shipping through the Strait of Hormuz, although prices gained over the week to close above $104 as attacks on key Middle East shipping routes fuelled further supply concerns. Meanwhile, US CPI data showed inflation accelerated in August, reinforcing expectations that interest rates could remain higher for longer. Global bond yields remained at multi-year highs amid inflation concerns, while major US indices ended Friday’s session higher as investors welcomed inflation data that broadly met expectations. 

Closing prices

 

 

NBP (p/therm)

  

UK Base (£/MWh)

  
 

Close

Day on Day

Close

Day on Day

Oct-26

198.76

-6.37

153.50

-3.2

Nov-26

202.25

-5.7

163.75

-4.1

Dec-26

203.71

-5.61

163.08

-3.17

Q4-26

201.57

-5.89

160.18

-3.27

Q1-27

199.83

-5.04

162.51

-2.16

Q2-27

141.51

-1.2

112.51

-0.4

Win-26

200.71

-5.46

161.08

-2.99

Sum-27

134.96

-1.64

108.74

-0.18

Win-27

128.10

-1.59

108.04

-0.72

Sum-28

80.67

-0.8

70.72

-0.45

Win-28

87.87

-0.67

80.75

-0.07

Exec Summary

        

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