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Prices jump higher as Saudi Arabia and the US launch attacks on Iran-backed forces |
Gas and power
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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. |
Adjacent markets
|
NBP (p/therm) |
UK Base (£/MWh) |
||||
|
Close |
Day on Day |
Close |
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 |
Closing prices
|
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 |
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