Thursday 30th July

Prices jump higher as Saudi Arabia and the US launch attacks on Iran-backed forces

Prices jumped higher on Wednesday to hit a new high for the week. Missile attacks on US bases in the region were met by a joint US-Saudi response targeting Iran-backed militias in Iraq. Markets rose further in the afternoon after President Trump threatened to punish Iran for the attacks on US forces. Long-range gas storage across the EU hit 56%, compared to 68% at this time last year, with a significant amount of US LNG now heading to Northeast Asia.

NBP (p/therm)

UK Base (£/MWh)

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Day on Day

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Day on Day

Aug-26

146.890

8.490

122.470

6.000

Sep-26

148.683

8.960

123.050

3.960

Oct-26

149.033

9.230

120.040

5.830

Q4-26

151.078

9.030

126.880

6.060

Q1-27

143.348

8.240

121.690

4.950

Q2-27

99.500

3.010

86.930

0.620

Win-26

147.240

8.650

124.375

5.550

Sum-27

96.206

2.830

84.630

0.670

Win-27

94.625

2.270

86.415

1.340

Sum-28

68.975

1.470

64.800

0.170

Win-28

76.236

1.220

72.575

0.300

NBP (p/therm)

Aug-26

146.89

Q4-26

151.08

Q1-27

143.35

Win-26

147.24

Sum-27

96.21

UK Base (£/MWh)

Aug-26

122.47

Q4-26

126.88

Q1-27

121.69

Win-26

124.38

Sum-27

84.63