Tuesday 15th September 2026

Power and gas markets close higher as tensions in the Middle East continue to rise

Tuesday 15th September 2026
  • Sep 15, 2026, 10:13:28 AM
  • 1 minute read

Power and gas markets close higher as tensions in the Middle East continue to rise

 

Gas and power

Power and gas prices closed higher yesterday as the situation in the Middle East continued to escalate, with Houthi attacks in Saudi Arabia over the weekend resulting in the shutdown of the major East West oil pipeline. Sentiment was further dampened by the cancellation of the Iran-Gulf meeting scheduled for yesterday, which erased optimism surrounding the talks. However, prices closed below their intraday highs after President Trump stated that Russia and Ukraine had agreed to halt attacks on energy infrastructure, helping to limit gains.

Adjacent markets

 Oil prices moved higher yesterday as tensions between Houthi and Saudi Arabian forces escalated. Reports suggested that the Houthis targeted a Saudi airbase while continuing to expand their control along the Red Sea, increasing concerns over potential disruption to shipping through the Bab el-Mandeb Strait and supporting oil prices. Elsewhere, US equity markets fell amid a broad AI-led selloff after executives from several major AI firms warned about the risks of rapid AI development. Meanwhile, Treasury yields continued to rise as investors priced in the prospect of the Federal Reserve keeping interest rates higher for longer. 

Closing prices

 

NBP (p/therm)

  

UK Base (£/MWh)

  
 

Close

Day on Day

Close

Day on Day

Oct-26

206.42

7.67

159.05

5.55

Nov-26

210.16

7.91

169.61

5.86

Dec-26

211.34

7.63

168.53

5.45

Q4-26

209.30

7.74

165.70

5.52

Q1-27

208.12

8.29

167.81

5.3

Q2-27

144.58

3.08

113.84

1.33

Win-26

208.72

8.01

166.74

5.66

Sum-27

137.31

2.34

109.88

1.13

Win-27

129.37

1.27

108.72

0.68

Sum-28

80.87

0.2

71.62

0.9

Win-28

88.26

0.39

81.40

0.65

 

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