Tuesday 25th August

 Prices move higher as the US prepares to isolate Iran with new secondary tariffs 

Tuesday 25th August
  • Aug 25, 2026, 9:10:34 AM
  • 1 minute read

 Prices move higher as the US prepares to isolate Iran with new secondary tariffs 

 

Gas and power

 Prices moved higher across the curve on Monday, with many contracts reaching new highs. The unresolved situation in the Middle East remains the most significant factor driving prices higher, with the US expected to increase pressure on Iran through the use of "secondary tariffs" targeting countries that maintain economic ties with it. Iran responded by stating that it had blacklisted 45 tankers that had crossed the Strait of Hormuz, raising the threat of vessels being detained or their cargoes confiscated. Short-term weather forecasts continue to point to slightly above-seasonal wind generation, which should help reduce gas-for-power demand. 

Adjacent markets

Oil prices traded lower yesterday as investors took profits following recent highs, although losses were limited by caution ahead of the announcement of new US sanctions later in the evening. Equity markets were volatile and closed mixed as investors also awaited details of the measures. Sentiment was further affected by rising trade tensions between the US and Canada following unsuccessful negotiations.

Closing prices

 

Sep-26

167.80

4.77

131.03

2.13

Oct-26

168.79

4.87

132.64

3.47

Nov-26

172.11

5.09

143.57

4.06

Q4-26

171.60

5.01

139.42

3.74

Q1-27

167.98

5.56

137.95

3.62

Q2-27

111.54

1.84

94.87

2.14

Win-26

169.80

5.29

138.65

3.68

Sum-27

107.69

1.73

91.90

1.65

Win-27

104.43

1.12

92.18

0.95

Sum-28

74.13

0.82

67.49

0.4

Win-28

80.40

0.27

75.55

0.27

 

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